The Hourly View for XEC
At the moment, XEC (Get Ratings)’s price is up $0.54 (0.88%) from the hour prior. The hourly chart shows that XEC has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
XEC’s Technical Outlook on the Daily Chart
At the moment, XEC’s price is up $2.7 (4.55%) from the day prior. This move is a reversal from the day prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Cimarex Energy Co’s price action over the past 90 days can be seen via the chart below.
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The post Cimarex Energy Co (XEC): Price Now Near $62.01; Daily Chart Shows An Uptrend on 50 Day Basis appeared first on ETF Daily News.
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