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Cabot Oil & Gas (COG) Approaches New Downside Target of $22.61

By Amy Schwartz

Shares of Cabot Oil & Gas (NYSE:COG) have bearishly opened below the pivot of $23.20 today and have reached the first support level of $22.87. Should the shares continue to fall, the support pivots of $22.61 and $22.02 will be of interest.

Over the past year, Cabot Oil & Gas has traded in a range of $14.88 to $35.64 and is now at $22.83, 53% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 0.5%.

There is potential upside of 25.7% for shares of Cabot Oil & Gas based on a current price of $22.83 and an average consensus analyst price target of $28.70. The stock should discover initial support at its 50-day moving average (MA) of $22.54 and subsequent support at its 200-day MA of $21.55.

SmarTrend is tracking the current trend status for Cabot Oil & Gas and will alert subscribers who have COG in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts cabot oil & gas

Ticker(s): COG