Look for Shares of Cimarex Energy to Potentially Pullback after Yesterday's 3.04% Rise
Cimarex Energy (NYSE:XEC) traded in a range yesterday that spanned from a low of $138.44 to a high of $142.20. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $139.98 on volume of 626,000 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 share prices have moved between a 52-week high of $142.20 and a 52-week low of $72.77 and are now trading 94% above that low price at $141.45 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%.
SmarTrend is tracking the current trend status for Cimarex Energy and will alert subscribers who have XEC in their portfolio or watchlist when shares have changed trend direction.
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