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Stock Investors Sell Off Shares of Canadian Natural Resources, Down 2.0%

Published on Thu, 02/21/2013 - 11:51
By Peter Chu

Down 2.0% to $29.38, Canadian Natural Resources (NYSE:CNQ), is one of today's notable movers. The Dow is down 0.3% to 13,878 and the S&P is currently down 0.5% to 1,505.

In the past 52 weeks, shares of Canadian Natural Resources have traded between a low of $25.01 and a high of $38.62 and are now at $29.38, which is 17% above that low price. The 200-day and 50-day moving averages have moved 0.15% lower and 0.30% higher over the past week, respectively.

Potential upside of 31.4% exists for Canadian Natural Resources, based on a current level of $29.38 and analysts' average consensus price target of $38.61. The stock should run into initial resistance at its 200-day moving average (MA) of $29.51 and subsequent resistance at its 50-day MA of $29.77.

Canadian Natural Resources Ltd. acquires, explores for, develops, and produces natural gas, crude oil, and related products. The Company operates in the Canadian provinces of Alberta, northeastern British Columbia and Saskatchewan. Canadian Natural also operates in areas which have access for exploration activities and where pipeline systems already exist.

By Peter Chu
pchu@fnno.com