Cimarex Energy Is Slowly Improving

 | Sep 12, 2017 | 4:22 PM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:


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.

In this weekly bar chart of XEC, below, we can see that prices are below the declining 40-week moving average line. The weekly OBV line has improved the past two months and the weekly MACD oscillator crossed to the upside last month for a cover shorts buy signal.

Bottom line: XEC is slowly improving. More sideways price action is likely and maybe even another test of the July or August lows.

Columnist Conversations

Equity futures were up slightly just before 9:30 PM Sunday night.
Spent a good amount of time with PayPal CEO Dan Schulman this week...and came away fully understanding why thi...
Has quietly taken a mini beating over the past few weeks. Might be worth a look on Monday given everything tha...



News Breaks

Powered by


Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.