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Concho Resources Bearish Moving Average Crossover Alert (CXO)

By James Quinn

Concho Resources (NYSE:CXO) crossed under its 10-day moving average of $115.84 on a volume of 211K 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.

Concho Resources share prices have moved between a 52-week high of $134.13 and a 52-week low of $69.94 and are now trading 63% above that low price at $114.27 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

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