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Basic Energy Services Crosses Above its 10-day MA (BAS)

By David Diaz

Basic Energy Services (NYSE:BAS) crossed over its 10-day moving average of $5.88 on a volume of 4.9 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Basic Energy Services have traded between a low of $5.01 and a high of $29.84 and are now at $6.00, which is 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 7% while the 200-day MA has slid 1.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Basic Energy Services on July 31st, 2014 by issuing a Downtrend alert when the shares were trading at $24.72. Since that call, shares of Basic Energy Services have fallen 78.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses basic energy services

Ticker(s): BAS