Stone Energy Bearish Moving Average Crossover Alert (SGY)
Stone Energy (NYSE:SGY) crossed under its 10-day moving average of $31.34 on a volume of 663K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Stone Energy share prices have been bracketed by a low of $29.13 and a high of $50.00 and are now at $31.23, 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has remained constant.
SmarTrend recommended that its subscribers protect gains by selling shares of Stone Energy on July 15th, 2014 by issuing a Downtrend alert when the shares were trading at $41.45. Since that call, shares of Stone Energy have fallen 22.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses stone energy