Cimarex Energy Is Slowly Improving

Cimarex Energy Co. (XEC) made a low in June and retested in July and August. Prices are now above the rising 50-day simple moving average line. Is it safe to do some buying in Action Alerts PLUS name XEC? Let's check the charts and indicators for clues.

In this daily bar chart of XEC, below, we can see that the 200-day moving average line is declining while the 50-day line is rising. The daily On-Balance-Volume (OBV) line has been flat since June but looks like it is slowly improving since mid-August. A rising OBV line signals to me that buyers have become more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line or in positive territory....71 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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