• Return to Headlines

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

By Amy Schwartz

Today, shares of Basic Energy Services (NYSE:BAS) have advanced above their 10-day MA of $6.37 on a volume of 637K 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.

In the past 52 weeks, shares of Basic Energy Services have traded between a low of $5.00 and a high of $28.68 and are now at $6.53, which is 31% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 2.4% while the 50-day MA has declined 2.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Basic Energy Services on May 19th, 2015 by issuing a Downtrend alert when the shares were trading at $8.44. Since that call, shares of Basic Energy Services have fallen 25.9%. 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