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Murphy Oil Corp Crosses Below its 10-day MA (MUR)

By Amy Schwartz

Today, shares of Murphy Oil Corp (NYSE:MUR) have crossed bearishly below their 10-day moving average of $30.04 on a volume of 295K 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.

Murphy Oil Corp share prices have moved between a 52-week high of $36.53 and a 52-week low of $21.51 and are now trading 39% above that low price at $29.94 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.0%.

SmarTrend recommended that subscribers consider buying shares of Murphy Oil Corp on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.74. Since that recommendation, shares of Murphy Oil Corp have risen 17.0%. We continue to monitor MUR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses murphy oil corp

Ticker(s): MUR