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Newfield Exploration Crosses Above its 10-day MA (NFX)

By Shiri Gupta

Newfield Exploration (NYSE:NFX) shares have crossed bullishly above their 10-day moving average of $41.11 on a volume of 525K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Newfield Exploration has traded in a range of $20.84 to $44.08 and is now at $42.41, 104% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.1% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Newfield Exploration on February 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.80. Since that recommendation, shares of Newfield Exploration have risen 50.8%. We continue to monitor NFX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Newfield Exploration

Ticker(s): NFX