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Shares of Qep Resources In Fall to a New 52-Week Low

By Shiri Gupta

Qep Resources In (NYSE:QEP) traded at a new 52-week low today of $7.94. This new low was reached on approximately average trading volume as 5.5 million shares traded hands, while the average 30-day volume is approximately 4.5 million shares.

Potential upside of 111.5% exists for Qep Resources In, based on a current level of $8.01 and analysts' average consensus price target of $16.93. Qep Resources In shares should first meet resistance at the 200-day moving average (MA) of $13.40 and find additional resistance at the 50-day MA of $13.78.

QEP Resources Inc. is an independent natural gas and oil exploration and production company. The Company's operations are focused in the Rocky Mountain and Midcontinent regions of the United States. QEP also gathers, compresses, treats, and processes natural gas.

Over the past year, Qep Resources Inhas traded in a range of $7.94 to $21.12 and are now at $8.01. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.2% while the 200-day MA has risen 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Qep Resources In on January 11th, 2017 by issuing a Downtrend alert when the shares were trading at $17.85. Since that call, shares of Qep Resources In have fallen 48.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows qep resources in

Ticker(s): QEP