Concho Resources Bearish Moving Average Crossover Alert (CXO)
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