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Bearish Moving Average Cross by Concho Resources (CXO)

By David Diaz

Today, shares of Concho Resources (NYSE:CXO) have fallen below their 10-day MA of $138.76 on a volume of 160K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Concho Resources has traded in a range of $69.94 to $143.60 and is now at $138.56, 98% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.7%.

SmarTrend is monitoring the recent change of momentum in Concho Resources. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Concho Resources in search of a potential trend change.

Keywords: moving crosses concho resources

Ticker(s): CXO