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Watch for Shares of Southwestern Energy (SWN) to Approach Support at $6.88

By James Quinn

Shares of Southwestern Energy (NYSE:SWN) have bearishly opened below the pivot of $7.11 today and have reached the first support level of $6.96. Analysts will be watching for a cross of the next downside pivot targets of $6.88 and $6.65.

In the past 52 weeks, Southwestern Energy share prices have been bracketed by a low of $5.00 and a high of $29.61 and are now at $7.01, 40% above that low price. The 200-day and 50-day moving averages have moved 1.57% lower and 4.81% higher over the past week, respectively.

Southwestern Energy has overhead space with shares priced $7.01, or 44.7% below the average consensus analyst price target of $12.68. The stock should run into initial resistance at its 50-day moving average (MA) of $9.06 and subsequent resistance at its 200-day MA of $10.87.

SmarTrend recommended that its subscribers protect gains by selling shares of Southwestern Energy on December 20th, 2016 by issuing a Downtrend alert when the shares were trading at $10.47. Since that call, shares of Southwestern Energy have fallen 32.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts southwestern energy

Ticker(s): SWN