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Bullish Moving Average Cross by Oasis Petroleum (OAS)

By Amy Schwartz

Today, shares of Oasis Petroleum (NYSE:OAS) have crossed bullishly above their 10-day moving average of $9.31 on a volume of 3.1 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 $18.15 and a 52-week low of $3.39 and are now trading 184% above that low price at $9.62 per share. The 200-day and 50-day moving averages have moved 0.61% lower and 4.32% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Oasis Petroleum on August 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.46. Since that recommendation, shares of Oasis Petroleum have risen 8.5%. We continue to monitor OAS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses oasis petroleum

Ticker(s): OAS