• Return to Headlines

Murphy Oil Bearish Moving Average Crossover Alert (MUR)

By Shiri Gupta

Today, shares of Murphy Oil (NYSE:MUR) have fallen below their 10-day MA of $24.98 on a volume of 491K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Murphy Oil has traded in a range of $14.30 to $47.72 and is now at $24.47, 71% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 5.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Murphy Oil on January 27th, 2017 by issuing a Downtrend alert when the shares were trading at $30.29. Since that call, shares of Murphy Oil have fallen 16.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses murphy oil

Ticker(s): MUR