SmarTrend identified an Uptrend for Nexen (NYSE:NXY) on June 29th, 2012 at $17.13. In approximately 6 months, Nexen has returned 56.04% as of today's recent price of $26.73.

Nexen share prices have moved between a 52-week high of $26.98 and a 52-week low of $14.63 and are now trading 83% above that low price at $26.73 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.3%.

Nexen Inc., operates as an energy company and explores for, develops, produces and markets crude oil, natural gas and power. The Company's oil and gas exploration and development activities are conducted in the North Sea, Canada, Gulf of Mexico, offshore West Africa, and Yemen.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Nexen shares.

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