Downgrade Alert for Consol Energy (CNX)
Consol Energy (NYSE:CNX) was downgraded from Buy to Accumulate at KLR Group today. The stock closed yesterday at $16.97 on volume of 3.8 million shares, below average daily volume of 7.0 million.
Consol Energy (NYSE:CNX) is currently priced 17.3% above its average consensus analyst price target of $14.03. The stock should find initial support at its 50-day moving average (MA) of $11.98 and further support at its 200-day MA of $10.43.
Consol Energy share prices have moved between a 52-week high of $34.14 and a 52-week low of $4.54 and closed yesterday at 274% above that low price at $16.97 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 4.7%.
CONSOL Energy Inc. produces high-BTU bituminous coal, and also coalbed methane gas. The Company primarily produces pipeline-quality coalbed methane gas from coal properties in the Northern and the Central Appalachian basin, other western basins, and oil and gas from properties in the Appalachian and Illinois Basins.
SmarTrend recommended that subscribers consider buying shares of Consol Energy on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.07. Since that recommendation, shares of Consol Energy have risen 70.8%. We continue to monitor CNX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades consol energy