• Return to Headlines

Downtrend Call Working As Concho Resources Stock Falls 29.4% (CXO)

By Shiri Gupta

SmarTrend identified a Downtrend for Concho Resources (NYSE:CXO) on July 3rd, 2019 at $99.26. In approximately 1 month, Concho Resources has returned 29.43% as of today's recent price of $70.05.

Over the past year, Concho Resources has traded in a range of $63.92 to $160.81 and is now at $70.05, 10% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.8%.

Concho Resources Inc., an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2018, its estimated proved reserves totaled 1.2 billion barrels of oil equivalent. The company was founded in 2006 and is headquartered in Midland, Texas.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Concho Resources.

Log in and add Concho Resources (CXO) to your watchlist today so you can receive a real-time alert when the shares are about to change trend.

Keywords: spotlights concho resources

Ticker(s): CXO