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Bearish Moving Average Cross by Consol Energy (CNX)

By Shiri Gupta

Today, shares of Consol Energy (NYSE:CNX) have fallen below their 10-day MA of $7.83 on a volume of 3.9 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Consol Energy share prices have been bracketed by a low of $6.38 and a high of $42.26 and are now at $7.67, 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.4% while the 200-day MA has slid 1.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Consol Energy on September 23rd, 2015 by issuing a Downtrend alert when the shares were trading at $11.51. Since that call, shares of Consol Energy have fallen 29.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses consol energy

Ticker(s): CNX