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Bullish Moving Average Cross by Cimarex Energy (XEC)

By Amy Schwartz

Cimarex Energy (NYSE:XEC) shares have crossed bullishly above their 10-day moving average of $118.50 on a volume of 198K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Cimarex Energy have traded between a low of $72.77 and a high of $146.96 and are now at $118.75, which is 63% 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 1.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cimarex Energy on February 2nd, 2017 by issuing a Downtrend alert when the shares were trading at $132.80. Since that call, shares of Cimarex Energy have fallen 11.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Cimarex Energy

Ticker(s): XEC