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Bearish Moving Average Cross by Parsley Energy-A (PE)

By Nick Russo

Parsley Energy-A (NYSE:PE) shares have crossed bearishly below their 10-day moving average of $31.80 on a volume of 271K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Parsley Energy-A share prices have moved between a 52-week high of $39.82 and a 52-week low of $21.12 and are now trading 50% above that low price at $31.65 per share. The 200-day and 50-day moving averages have moved 0.79% higher and 2.45% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Parsley Energy-A on February 23rd, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.68. Since that recommendation, shares of Parsley Energy-A have risen 24.4%. We continue to monitor PE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses parsley energy-a

Ticker(s): PE