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Bearish Moving Average Cross by Oasis Petroleum (OAS)

By David Diaz

Today, shares of Oasis Petroleum (NYSE:OAS) have crossed bearishly below their 10-day moving average of $11.84 on a volume of 5.1 million 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.

Over the past year, Oasis Petroleum has traded in a range of $3.39 to $18.15 and is now at $11.72, 246% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 4.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Oasis Petroleum on February 7th, 2017 by issuing a Downtrend alert when the shares were trading at $13.52. Since that call, shares of Oasis Petroleum have fallen 10.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses oasis petroleum

Ticker(s): OAS