Continental Resources Crosses Below its 10-day MA (CLR)
Continental Resources (NYSE:CLR) crossed under its 10-day moving average of $43.92 on a volume of 990K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Continental Resources share prices have been bracketed by a low of $13.94 and a high of $53.40 and are now at $42.50, 205% above that low price. Over the past week, 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 7.8%. 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