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Carrizo Oil & Gas Crosses Above its 10-day MA (CRZO)

Published on Mon, 02/25/2013 - 12:12
By Mallory Stone

Carrizo Oil & Gas (NASDAQ:CRZO) crossed over its 10-day moving average of $21.69 on a volume of 724K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Potential upside of 33.4% exists for Carrizo Oil & Gas, based on a current level of $22.20 and analysts' average consensus price target of $29.62. The stock should find resistance at its 200-day moving average (MA) of $23.53, as well as support at its 50-day MA of $21.41.

Over the past year, Carrizo Oil & Gas has traded in a range of $19.03 to $31.62 and is now at $22.20, 17% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has remained constant.

Carrizo Oil & Gas, Inc. explores for and produces natural gas and crude oil. The Company develops and exploits onshore properties along the Texas and Louisiana Gulf Coast regions.

By Mallory Stone
mstone@fnno.com

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