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Watch for Shares of PrimeEnergy (PNRG) to Approach Support at $18.50

Written on Thu, 06/24/2010 - 12:39pm
By Chip Brian

SmarTrend has detected shares of PrimeEnergy (NASDAQ:PNRG) have bearishly opened below the pivot of $19.40 today and have reached the first level of support of $18.90.
Should the shares continue to fall, we are monitoring the next support pivots of $18.50 and $17.60. Also, the shares are currently trading below the 50-day moving average of $21.55 and below the 200-day moving average of $28.50.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of PrimeEnergy on April 07, 2010 at $25.90. Since the call, the stock has fallen 27.5%.

Keywords: primeenergy pivot points

Ticker(s): PNRG

Contact Chip Brian



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