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Upgrade Alert for EnCana (ECA)

By David Diaz

EnCana (NYSE:ECA) was upgraded from Underperform to Neutral at Macquarie today. The stock closed yesterday at $10.73 on volume of 20.7 million shares, above average daily volume of 15.0 million.

EnCana (NYSE:ECA) is currently priced 3.6% above its average consensus analyst price target of $10.34. The stock should discover initial support at its 200-day moving average (MA) of $6.35 and subsequent support at its 50-day MA of $6.09.

In the past 52 weeks, shares of EnCana have traded between a low of $3.00 and a high of $14.73 and closed yesterday at $10.73, which is 258% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 4.6%.

EnCana Corporation explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The Company operates in North and South America.

SmarTrend recommended that subscribers consider buying shares of EnCana on May 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.48. Since that recommendation, shares of EnCana have risen 46.2%. We continue to monitor ECA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades encana

Ticker(s): ECA