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After Yesterday's Rally of 2.62% Shares Could Potentially Pullback

By James Quinn

Cimarex Energy C (NYSE:XEC) traded in a range yesterday that spanned from a low of $93.61 to a high of $96.71. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $94.98 on volume of 466,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Cimarex Energy C on February 2nd, 2017 by issuing a Downtrend alert when the shares were trading at $132.80. Since that call, shares of Cimarex Energy C have fallen 29.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Cimarex Energy C share prices have moved between a 52-week high of $146.96 and a 52-week low of $89.49 and are now trading 7% above that low price at $96.13 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.9%.

Keywords: rebounders cimarex energy c

Ticker(s): XEC