Basic Energy Services Crosses Above its 10-day MA (BAS)
Today, shares of Basic Energy Services (NYSE:BAS) have crossed bullishly above their 10-day moving average of $11.01 on a volume of 492K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.
Over the past year, Basic Energy Services has traded in a range of $8.52 to $22.50 and is now at $11.19, 31% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.9% while the 50-day MA has declined 0.3%.
SmarTrend recommended that subscribers consider buying shares of Basic Energy Services on November 28th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.28. Since that recommendation, shares of Basic Energy Services have risen 3.0%. We continue to monitor BAS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses basic energy services