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After Yesterday's Rally of 1.11% Shares Could Potentially Pullback

By Shiri Gupta

Cimarex Energy C (NYSE:XEC) traded in a range yesterday that spanned from a low of $97.63 to a high of $103.53. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $101.50 on volume of 539,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Cimarex Energy C share prices have moved between a 52-week high of $130.16 and a 52-week low of $82.45 and are now trading 21% above that low price at $99.68 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

SmarTrend recommended that subscribers consider buying shares of Cimarex Energy C on June 20th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $93.59. Since that recommendation, shares of Cimarex Energy C have risen 5.3%. We continue to monitor XEC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders cimarex energy c

Ticker(s): XEC