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Watch for Shares of Southwestrn Engy (SWN) to Approach Support at $1.67

By Shiri Gupta

Shares of Southwestrn Engy (NYSE:SWN) have bearishly opened below the pivot of $1.83 today and have reached the first support level of $1.73. Should the shares continue to fall, the support pivots of $1.67 and $1.51 will be of interest.

Over the past year, Southwestrn Engy has traded in a range of $1.64 to $6.23 and is now at $1.76, 7% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 3.8%.

Southwestrn Engy (NYSE:SWN) has potential upside of 244.0% based on a current price of $1.76 and analysts' consensus price target of $6.05. The stock should run into initial resistance at its 50-day moving average (MA) of $2.71 and subsequent resistance at its 200-day MA of $3.97.

SmarTrend recommended that its subscribers protect gains by selling shares of Southwestrn Engy on February 7th, 2019 by issuing a Downtrend alert when the shares were trading at $3.80. Since that call, shares of Southwestrn Engy have fallen 52.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts southwestrn engy

Ticker(s): SWN