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Bullish Moving Average Cross by Oasis Petroleum (OAS)

By Nick Russo

Oasis Petroleum (NYSE:OAS) shares have crossed bullishly above their 10-day moving average of $8.18 on a volume of 2.0 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Oasis Petroleum share prices have moved between a 52-week high of $17.08 and a 52-week low of $6.56 and are now trading 27% above that low price at $8.35 per share. 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 November 20th, 2017 by issuing a Downtrend alert when the shares were trading at $9.65. Since that call, shares of Oasis Petroleum have fallen 17.2%. 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