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Bullish Moving Average Cross by Approach Resources (AREX)

By James Quinn

Approach Resources (NASDAQ:AREX) shares have crossed bullishly above their 10-day moving average of $5.42 on a volume of 265K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Approach Resources has traded in a range of $4.28 to $24.00 and is now at $5.53, 29% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.3% while the 200-day MA has slid 1.9%.

SmarTrend is monitoring the recent change of momentum in Approach Resources. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Approach Resources in search of a potential trend change.

Keywords: moving crosses approach resources

Ticker(s): AREX