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After Yesterday's Rally of 2.04%, Eagle Rock Energy Shares Could Pullback (EROC)

Written on Fri, 07/30/2010 - 5:01am
By Chip Brian

Eagle Rock Energy (NASDAQ:EROC) traded in a range yesterday that spanned from a low of $5.79 to a high of $6.17. Yesterday, the shares gained 2.04%, which took the trading range above the 3-day high of $5.93 on volume of 444,000 shares.
Shares of Eagle Rock Energy are currently trading above their 50-day moving average (MA) of $5.26 and above their 200-day MA of $5.59. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of Eagle Rock Energy and our subscribers were alerted to Buy on July 23, 2010 at $5.66. The stock has risen 6% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $5.93 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Energy MLP industry.

Contact Chip Brian
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