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Carrizo Oil & Gas Bearish Moving Average Crossover Alert (CRZO)

By James Quinn

Carrizo Oil & Gas (NASDAQ:CRZO) crossed under its 10-day moving average of $38.96 on a volume of 224K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Carrizo Oil & Gas has traded in a range of $16.10 to $56.26 and is now at $38.06, 136% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.2% while the 200-day MA has slid 0.4%.

SmarTrend recommended that subscribers consider buying shares of Carrizo Oil & Gas on May 16th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.35. Since that recommendation, shares of Carrizo Oil & Gas have risen 7.5%. We continue to monitor CRZO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses carrizo oil & gas

Ticker(s): CRZO