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Recent 52-Week High Exceeded in Shares of Contl Res Inc/Ok (CLR)

By Amy Schwartz

Contl Res Inc/Ok (NYSE:CLR) traded at a new 52-week high today of $68.95. So far today approximately 286,000 shares have been exchanged, as compared to an average 30-day volume of 6.1 million shares.

Over the past year, Contl Res Inc/Ok has traded in a range of $29.08 to $68.95 and is now at $68.74, 136% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 5.2%.

Potential upside of 3.1% exists for Contl Res Inc/Ok, based on a current level of $68.74 and analysts' average consensus price target of $70.86. Contl Res Inc/Ok shares have support at the 50-day moving average (MA) of $31.03 and additional support at the 200-day MA of $29.26.

Continental Resources, Inc., based in Oklahoma City, is focused on the exploration and production of on-shore oil-prone plays in the United States. The Company concentrates its leasehold and production strategies in the Bakken of North Dakota and Montana, as well as Oklahoma in its recently discovered SCOOP play and the Northwest Cana play.

SmarTrend recommended that subscribers consider buying shares of Contl Res Inc/Ok on February 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.81. Since that recommendation, shares of Contl Res Inc/Ok have risen 26.6%. We continue to monitor CLR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows contl res inc/ok

Ticker(s): CLR