• Return to Headlines

Concho Resources Bearish Moving Average Crossover Alert (CXO)

By James Quinn

Concho Resources (NYSE:CXO) crossed under its 10-day moving average of $70.88 on a volume of 421K 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, Concho Resources has traded in a range of $63.92 to $160.81 and is now at $68.59, 7% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Concho Resources on July 3rd, 2019 by issuing a Downtrend alert when the shares were trading at $99.26. Since that call, shares of Concho Resources have fallen 28.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses concho resources

Ticker(s): CXO