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Concho Resources Bearish Moving Average Crossover Alert (CXO)

By James Quinn

Concho Resources (NYSE:CXO) shares have crossed bearishly below their 10-day moving average of $64.43 on a volume of 148K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Concho Resources share prices have been bracketed by a low of $61.37 and a high of $153.38 and are now at $63.34, 3% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.8%.

SmarTrend is tracking the current trend status for Concho Resources and will alert subscribers who have CXO in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses concho resources

Ticker(s): CXO