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CVR Energy Shares Sinking Lower, Down 1.4%

Published on Mon, 03/11/2013 - 10:31
By Robert Cotter

Down 1.4% to $58.62, CVR Energy (NYSE:CVI), is one of today's notable movers. The S&P is trading fractionally lower to 1,550 and the Dow is trading fractionally higher to 14,402.

CVR Energy (NYSE:CVI) is currently priced 1.3% above its average consensus analyst price target of $57.88. The stock should discover initial support at its 50-day moving average (MA) of $53.80 and subsequent support at its 200-day MA of $38.78.

CVR Energy, Inc. is an independent refiner and marketer of transportation fuels. The Company, also through a limited partnership produces ammonia and urea ammonia nitrate, or UAN, fertilizers.

In the past 52 weeks, CVR Energy share prices have been bracketed by a low of $23.54 and a high of $62.50 and are now at $58.62, 149% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 2.0% while the 50-day MA has advanced 2.2%.

By Robert Cotter
rcotter@fnno.com