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Bullish Moving Average Cross by SPDR S&P Oil & Gas Exploration & Production ETF (XOP)

By Shiri Gupta

SPDR S&P Oil & Gas Exploration & Production ETF (AMEX:XOP) shares have crossed bullishly above their 10-day moving average of $35.16 on a volume of 2.8 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.

In the past 52 weeks, SPDR S&P Oil & Gas Exploration & Production ETF share prices have been bracketed by a low of $22.06 and a high of $79.11 and are now at $35.47, 61% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 2.6%.

SmarTrend is monitoring the recent change of momentum in SPDR S&P Oil & Gas Exploration & Production ETF. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of SPDR S&P Oil & Gas Exploration & Production ETF in search of a potential trend change.

Keywords: moving crosses amex:xop spdr s&p oil & gas exploration & production etf

Ticker(s): XOP