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SmarTrend Watching for Potential Pullback in Shares of Continental Resources After 4.31% Gain
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Continental Resources (NYSE:CLR) traded in a range yesterday that spanned from a low of $78.19 to a high of $83.13. Yesterday, the shares gained 4.3%, which took the trading range above the 3-day high of $79.54 on volume of 2.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Continental Resources on December 23rd, 2011 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $68.88. Since that recommendation, shares of Continental Resources have risen 14.1%. We continue to monitor CLR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Continental Resources share prices have moved between a 52-week high of $83.99 and a 52-week low of $42.43 and are now trading 93% above that low price at $81.99 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.9%.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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