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Watch for Shares of Southwestern Energy (SWN) to Approach Support at $7.38

By Shiri Gupta

Shares of Southwestern Energy (NYSE:SWN) have bearishly opened below the pivot of $7.67 today and have reached the first support level of $7.51. Analysts will be watching for a cross of the next downside pivot targets of $7.38 and $7.09.

Southwestern Energy (NYSE:SWN) has potential upside of 70.0% based on a current price of $7.46 and analysts' consensus price target of $12.68. Southwestern Energy shares should first meet resistance at the 50-day moving average (MA) of $9.06 and find additional resistance at the 200-day MA of $10.87.

Southwestern Energy share prices have moved between a 52-week high of $29.61 and a 52-week low of $5.00 and are now trading 49% above that low price at $7.46 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has advanced 4.8%.

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 27.1%. 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