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Whiting Petroleum Bullish Moving Average Crossover Alert (WLL)

Published on Mon, 07/01/2013 - 11:58
By Adrienne Chilton

Today, shares of Whiting Petroleum (NYSE:WLL) have crossed bullishly above their 10-day moving average of $46.24 on a volume of 746K 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.

Whiting Petroleum Corporation is involved in oil and natural gas exploitation, acquisition, and exploration activities. The Company focuses on lower risk, long-lived oil and natural gas properties located primarily in the Gulf Coast/Permian Basin, Rocky Mountains, Michigan, and Mid-Continent regions of the United States.

In the past 52 weeks, shares of Whiting Petroleum have traded between a low of $38.29 and a high of $54.86 and are now at $47.33, which is 24% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Whiting Petroleum (NYSE:WLL) has potential upside of 27.9% based on a current price of $47.33 and analysts' consensus price target of $60.52. The stock should find initial support at its 200-day moving average (MA) of $46.57 and further support at its 50-day MA of $46.17.

By Adrienne Chilton
achilton@fnno.com