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Concho Resources Bullish Moving Average Crossover Alert (CXO)

By Shiri Gupta

Today, shares of Concho Resources (NYSE:CXO) have crossed bullishly above their 10-day moving average of $102.77 on a volume of 176K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Concho Resources share prices have moved between a 52-week high of $160.81 and a 52-week low of $93.31 and are now trading 11% above that low price at $103.30 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.4%.

SmarTrend is monitoring the recent change of momentum in Concho Resources. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Concho Resources in search of a potential trend change.

Keywords: moving crosses concho resources

Ticker(s): CXO