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Continental Resources Crosses Above its 10-day MA (CLR)

By David Diaz

Today, shares of Continental Resources (NYSE:CLR) have crossed bullishly above their 10-day moving average of $49.03 on a volume of 476K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Continental Resources has traded in a range of $13.94 to $53.40 and is now at $49.45, 255% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 5.2%.

SmarTrend recommended that subscribers consider buying shares of Continental Resources on May 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.85. Since that recommendation, shares of Continental Resources have risen 19.3%. We continue to monitor CLR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Continental Resources

Ticker(s): CLR