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

Published on Fri, 03/20/2015 - 11:33
By Robert Cotter in Moving average crossovers, CRZO, carrizo oil & gas, moving crosses, nasdaq:crzo

Today, shares of Carrizo Oil & Gas (NASDAQ:CRZO) have crossed bullishly above their 10-day moving average of $47.00 on a volume of 752K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Carrizo Oil & Gas have traded between a low of $31.70 and a high of $70.49 and are now at $48.34, which is 52% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.0%.

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.

There is potential upside of 17.8% for shares of Carrizo Oil & Gas based on a current price of $48.34 and an average consensus analyst price target of $56.96. The stock should hit resistance at its 200-day moving average (MA) of $52.41, as well as support at its 50-day MA of $46.87.

By Robert Cotter
rcotter@fnno.com

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