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Energen Bearish Moving Average Crossover Alert (EGN)

By Nick Russo

Energen (NYSE:EGN) crossed under its 10-day moving average of $59.56 on a volume of 195K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Energen share prices have been bracketed by a low of $53.78 and a high of $90.66 and are now at $59.13, 10% above that low price. The 200-day and 50-day moving averages have moved 0.19% lower and 1.83% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Energen on July 11th, 2014 by issuing a Downtrend alert when the shares were trading at $85.40. Since that call, shares of Energen have fallen 27.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses energen

Ticker(s): EGN