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After Yesterday's Decline of 1.08%, Cimarex Energy Offers Investors Better Value

By Shiri Gupta

Cimarex Energy (NYSE:XEC) traded in a range yesterday that spanned from a low of $119.02 to a high of $120.44. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $120.36 on volume of 273,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Cimarex Energy on February 2nd, 2017 by issuing a Downtrend alert when the shares were trading at $132.80. Since that call, shares of Cimarex Energy have fallen 8.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Cimarex Energy share prices have been bracketed by a low of $72.77 and a high of $146.96 and are now at $119.51, 64% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.9%.

Keywords: rebounders Cimarex Energy

Ticker(s): XEC