Bearish Moving Average Cross by Newfield Exploration (NFX)
Today, shares of Newfield Exploration (NYSE:NFX) have fallen below their 10-day MA of $40.09 on a volume of 597K 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.
In the past 52 weeks, Newfield Exploration share prices have been bracketed by a low of $20.84 and a high of $41.99 and are now at $39.86, 91% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 3.1%.
SmarTrend recommended that subscribers consider buying shares of Newfield Exploration on February 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.80. Since that recommendation, shares of Newfield Exploration have risen 52.2%. We continue to monitor NFX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Newfield Exploration