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Bullish Moving Average Cross by Oasis Petroleum (OAS)

By Shiri Gupta

Oasis Petroleum (NYSE:OAS) shares have crossed bullishly above their 10-day moving average of $7.89 on a volume of 1.7 million 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.

Over the past year, Oasis Petroleum has traded in a range of $6.56 to $17.08 and is now at $8.04, 23% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.3% while the 200-day MA has slid 0.6%.

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 42.6%. 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