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Stone Energy Bullish Moving Average Crossover Alert (SGY)

By Shiri Gupta

Stone Energy (NYSE:SGY) shares have crossed bullishly above their 10-day moving average of $11.41 on a volume of 673K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Stone Energy has traded in a range of $0.27 to $25.50 and is now at $11.53, 4,165% above that low. Over the past week, the 200-day moving average (MA) has gone down 4% while the 50-day MA has declined 5.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Stone Energy on July 21st, 2016 by issuing a Downtrend alert when the shares were trading at $15.00. Since that call, shares of Stone Energy have fallen 33.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses stone energy

Ticker(s): SGY