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

By Shiri Gupta

Murphy Oil (NYSE:MUR) shares have crossed bearishly below their 10-day moving average of $26.07 on a volume of 508K 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, Murphy Oil share prices have been bracketed by a low of $14.30 and a high of $47.72 and are now at $25.93, 81% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 5.3%.

SmarTrend is monitoring the recent change of momentum in Murphy Oil. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Murphy Oil in search of a potential trend change.

Keywords: moving crosses murphy oil

Ticker(s): MUR