SmarTrend Watching for Potential Pullback in Shares of Ultra Petroleum After 2.48% Gain
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[February 14, 2012]

SmarTrend Watching for Potential Pullback in Shares of Ultra Petroleum After 2.48% Gain

Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) -- Ultra Petroleum (NYSE:UPL) traded in a range yesterday that spanned from a low of $23.89 to a high of $24.88. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $24.21 on volume of 4.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.


In the past 52 weeks, shares of Ultra Petroleum have traded between a low of $23.09 and a high of $51.20 and are now at $24.35, which is 5% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 2.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Ultra Petroleum on December 14th, 2011 by issuing a Downtrend alert when the shares were trading at $30.08. Since that call, shares of Ultra Petroleum have fallen 21.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.


Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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