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Shares of Matador Resource Has Fallen Below Previous 52-Week Low

By David Diaz

Matador Resource (NYSE:MTDR) traded today at a new 52-week low of $13.91. Approximately 377,000 shares have changed hands today, as compared to an average 30-day volume of 2.9 million shares.

In the past 52 weeks, shares of Matador Resource have traded between the current low of $13.91 and a high of $34.91 and are now at $13.91. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 0.6%.

Matador Resources Company is an independent energy company engaged in the exploration, development, production, and acquisition of oil and natural gas resources. The Company's operations are primarily in the Eagle Ford Shale in south Texas and the Haynesville Shale and Cotton Valley in northwest Louisiana and east Texas.

Potential upside of 173.2% exists for Matador Resource, based on a current level of $13.91 and analysts' average consensus price target of $38.00. The stock should run into initial resistance at its 50-day moving average (MA) of $17.50 and subsequent resistance at its 200-day MA of $19.33.

SmarTrend recommended that its subscribers protect gains by selling shares of Matador Resource on July 18th, 2019 by issuing a Downtrend alert when the shares were trading at $17.41. Since that call, shares of Matador Resource have fallen 19.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows matador resource

Ticker(s): MTDR