• Return to Headlines

SmarTrend Watching for Potential Rebound in Shares of Concho Resources After 3.31% Loss

By James Quinn

Concho Resources (NYSE:CXO) traded in a range yesterday that spanned from a low of $138.09 to a high of $142.57. Yesterday, the shares fell 3.3%, which took the trading range below the 3-day low of $138.37 on volume of 416,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Concho Resources. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Concho Resources in search of a potential trend change.

In the past 52 weeks, Concho Resources share prices have been bracketed by a low of $123.63 and a high of $163.11 and are now at $138.48, 12% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 0.2%.

Keywords: rebounders concho resources

Ticker(s): CXO