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Bearish Moving Average Cross by California Resources Corporation (CRC)

By David Diaz

Today, shares of California Resources Corporation (:CRC) have crossed bearishly below their 10-day moving average of $9.75 on a volume of 584K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

California Resources Corporation share prices have moved between a 52-week high of $30.18 and a 52-week low of $8.90 and are now trading 7% above that low price at $9.55 per share. The 200-day and 50-day moving averages have moved 0.86% lower and 2.99% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of California Resources Corporation on July 5th, 2019 by issuing a Downtrend alert when the shares were trading at $18.05. Since that call, shares of California Resources Corporation have fallen 46.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses :crc california resources corporation

Ticker(s): CRC