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Shares of Qep Resources In Has Fallen Below Previous 52-Week Low

By James Quinn

Shares of Qep Resources In (NYSE:QEP) traded at a new 52-week low today of $7.30. This new low was reached on below average trading volume as 680,000 shares traded hands, while the average 30-day volume is approximately 4.5 million shares.

There is potential upside of 126.5% for shares of Qep Resources In based on a current price of $7.47 and an average consensus analyst price target of $16.93. The stock should run into initial resistance at its 200-day moving average (MA) of $13.40 and subsequent resistance at its 50-day MA of $13.78.

In the past 52 weeks, shares of Qep Resources In have traded between the current low of $7.30 and a high of $21.12 and are now at $7.47. 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%.

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.

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 58.0%. 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