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Look for Shares of Cimarex Energy C to Potentially Pullback after Yesterday's 2.74% Rise

By Nick Russo

Cimarex Energy C (NYSE:XEC) traded in a range yesterday that spanned from a low of $93.71 to a high of $96.61. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $95.31 on volume of 639,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Cimarex Energy C has traded in a range of $87.98 to $146.96 and is now at $96.34, 10% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cimarex Energy C on January 26th, 2018 by issuing a Downtrend alert when the shares were trading at $120.57. Since that call, shares of Cimarex Energy C have fallen 22.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders cimarex energy c

Ticker(s): XEC