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Shares of FX Energy Fall to a New 52-Week Low

By Amy Schwartz

FX Energy (NASDAQ:FXEN) traded today at a new 52-week low of $1.66. Approximately 194,000 shares have changed hands today, as compared to an average 30-day volume of 241,000 shares.

In the past 52 weeks, shares of FX Energy have traded between the current low of $1.66 and a high of $5.85 and are now at $1.67. In the last five trading sessions, the 50-day moving average (MA) has fallen 3% while the 200-day MA has slid 1%.

FX Energy (NASDAQ:FXEN) has potential upside of 184.4% based on a current price of $1.67 and analysts' consensus price target of $4.75. The stock should run into initial resistance at its 50-day moving average (MA) of $2.76 and subsequent resistance at its 200-day MA of $3.43.

FX Energy, Inc. explores for and produces oil and gas, primarily in the Republic of Poland. The Company also has limited oil production and reserves in Montana and Nevada, as well as oil and gas exploration projects in other western states.

SmarTrend recommended that its subscribers protect gains by selling shares of FX Energy on May 28th, 2014 by issuing a Downtrend alert when the shares were trading at $4.05. Since that call, shares of FX Energy have fallen 53.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows fx energy

Ticker(s): FXEN