Uptrend Spotted in Shares of Newfield Exploration (NFX)
SmarTrend identified an Uptrend for Newfield Exploration (NYSE: NFX) on December 14, 2009 at $44.16. In approximately 2 months, Newfield Exploration has returned 10.7% as of today's recent price of $48.90.
Newfield Exploration is currently above its 200-day moving average of $41.89 and should find resistance at its 50-day moving average of $49.56. Look for these moving averages to climb to confirm the company's upward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Newfield Exploration shares.
Write to Chip Brian at cbrian@tradethetrend.com
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