Bullish Moving Average Cross by SAN Juan Basin Royalty (SJT)
SAN Juan Basin Royalty (NYSE:SJT) shares have crossed bullishly above their 10-day moving average of $12.69 on a volume of 196K 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.
In the past 52 weeks, shares of SAN Juan Basin Royalty have traded between a low of $12.06 and a high of $23.75 and are now at $12.80, which is 6% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.7%.
SmarTrend recommended that its subscribers protect gains by selling shares of SAN Juan Basin Royalty on August 3rd, 2012 by issuing a Downtrend alert when the shares were trading at $14.73. Since that call, shares of SAN Juan Basin Royalty have fallen 14.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses san juan basin royalty