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SM Energy Crosses Above its 10-day MA (SM)

By Shiri Gupta

Today, shares of SM Energy (NYSE:SM) have crossed bullishly above their 10-day moving average of $26.21 on a volume of 1.2 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

SM Energy share prices have moved between a 52-week high of $60.28 and a 52-week low of $6.99 and are now trading 279% above that low price at $26.48 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 9.0% while the 200-day MA has slid 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of SM Energy on June 13th, 2016 by issuing a Downtrend alert when the shares were trading at $28.99. Since that call, shares of SM Energy have fallen 17.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses sm energy

Ticker(s): SM