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Matador Resource Crosses Below its 10-day MA (MTDR)

By James Quinn

Today, shares of Matador Resource (NYSE:MTDR) have fallen below their 10-day MA of $31.67 on a volume of 195K 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 Matador Resource have traded between a low of $21.81 and a high of $35.22 and are now at $31.24, which is 43% above that low price. The 200-day and 50-day moving averages have moved 0.24% higher and 0.03% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Matador Resource on June 27th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.71. Since that recommendation, shares of Matador Resource have risen 7.8%. We continue to monitor MTDR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses matador resource

Ticker(s): MTDR