• Return to Headlines

Concho Resources Crosses Below its 10-day MA (CXO)

By James Quinn

Concho Resources (NYSE:CXO) shares have crossed bearishly below their 10-day moving average of $99.73 on a volume of 132K 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.

In the past 52 weeks, shares of Concho Resources have traded between a low of $93.31 and a high of $160.81 and are now at $99.06, which is 6% above that low price. The 200-day and 50-day moving averages have moved 0.59% lower and 0.86% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Concho Resources on May 23rd, 2019 by issuing a Downtrend alert when the shares were trading at $104.57. Since that call, shares of Concho Resources have fallen 4.0%. 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