SmarTrend Detects Continued Selling Pressure in Shares of GMX Resources (GMXR)
Friday, March 19, 2010 - 11:08
Written on Fri, 03/19/2010 - 11:08am
By Chip Brian

SmarTrend identified a Downtrend for GMX Resources (NASDAQ:GMXR) on January 27, 2010 at $11.31. In approximately 2 months, GMX Resources has returned 16.8% as of today's recent price of $9.41.
GMX Resources is currently below its 50-day moving average of $10.91 and below its 200-day moving average of $12.51. Look for these moving averages to decline to confirm the company's downward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of GMX Resources.

Keywords: Stock research report chart fundamental technical analysis

Ticker(s): GMXR

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