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SmarTrend Watching for Potential Rebound in Shares of Concho Resources After 1.84% Loss

By Amy Schwartz

Concho Resources (NYSE:CXO) traded in a range yesterday that spanned from a low of $54.81 to a high of $56.64. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $56.30 on volume of 530,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Concho Resources and will alert subscribers who have CXO in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of Concho Resources have traded between a low of $33.13 and a high of $116.92 and are now at $55.38, which is 67% above that low price. The 200-day and 50-day moving averages have moved 0.93% lower and 1.09% lower over the past week, respectively.

Keywords: rebounders concho resources

Ticker(s): CXO