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Bearish Moving Average Cross by Consol Energy (CNX)

By David Diaz

Today, shares of Consol Energy (NYSE:CNX) have crossed bearishly below their 10-day moving average of $34.76 on a volume of 350K 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.

In the past 52 weeks, Consol Energy share prices have been bracketed by a low of $31.64 and a high of $48.30 and are now at $34.62, 9% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Consol Energy on November 28th, 2014 by issuing a Downtrend alert when the shares were trading at $38.75. Since that call, shares of Consol Energy have fallen 9.6%. 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