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Energen Bearish Moving Average Crossover Alert (EGN)

By James Quinn

Energen (NYSE:EGN) shares have crossed bearishly below their 10-day moving average of $48.17 on a volume of 189K 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, Energen share prices have been bracketed by a low of $20.76 and a high of $77.12 and are now at $47.21, 127% above that low price. The 200-day and 50-day moving averages have moved 0.8% lower and 3.63% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Energen on May 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.36. Since that recommendation, shares of Energen have risen 4.8%. We continue to monitor EGN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses energen

Ticker(s): EGN