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PrimeEnergy (PNRG) Crosses Pivot Point Support at $18.29

Written on Tue, 07/20/2010 - 12:41pm
By Chip Brian

SmarTrend has detected shares of PrimeEnergy (NASDAQ:PNRG) have bearishly opened below the pivot of $19.39 today and have reached the first level of support of $18.29.
Should the shares continue to fall, we are monitoring the next support pivots of $17.52 and $15.65. Also, the shares should find initial resistance at the 50-day moving average of $19.82 and further resistance at the 200-day moving average of $27.93.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to buy shares of PrimeEnergy on July 02, 2010 at $20.70. Since the call, the stock has risen -12.8%.

Keywords: primeenergy pivot points

Ticker(s): PNRG

Contact Chip Brian



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