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Cimarex Energy Crosses Below its 10-day MA (XEC)

By James Quinn

Today, shares of Cimarex Energy (NYSE:XEC) have crossed bearishly below their 10-day moving average of $118.51 on a volume of 155K 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, Cimarex Energy has traded in a range of $72.77 to $146.96 and is now at $116.92, 61% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cimarex Energy on February 2nd, 2017 by issuing a Downtrend alert when the shares were trading at $132.80. Since that call, shares of Cimarex Energy have fallen 10.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Cimarex Energy

Ticker(s): XEC