Newfield Exploration Crosses Below its 10-day MA (NFX)
Newfield Exploration (NYSE:NFX) shares have crossed bearishly below their 10-day moving average of $40.50 on a volume of 470K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of Newfield Exploration have traded between a low of $20.84 and a high of $42.53 and are now at $40.27, which is 93% above that low price. 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 52.3%. 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