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Murphy Oil Bullish Moving Average Crossover Alert (MUR)

By James Quinn

Murphy Oil (NYSE:MUR) shares have crossed bullishly above their 10-day moving average of $28.17 on a volume of 421K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Murphy Oil share prices have been bracketed by a low of $14.30 and a high of $47.72 and are now at $28.36, 98% above that low price. 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 8.0%. 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