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Bullish Moving Average Cross by Approach Resources (AREX)

Written on Fri, 12/07/2012 - 3:38pm
By David Diaz

Today, shares of Approach Resources (NASDAQ:AREX) have advanced above their 10-day MA of $23.42 on a volume of 290K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Approach Resources share prices have moved between a 52-week high of $39.18 and a 52-week low of $22.36 and are now trading 7% above that low price at $23.98 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.9% while the 200-day MA has slid 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Approach Resources on September 20th, 2012 by issuing a Downtrend alert when the shares were trading at $29.68. Since that call, shares of Approach Resources have fallen 22.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses approach resources

Ticker(s): AREX

Contact David Diaz



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