Whiting Petroleum Bullish Moving Average Crossover Alert (WLL)

Published on Thu, 04/02/2015 - 11:43
By Robert Cotter in Moving average crossovers, WLL, moving crosses, nyse:wll, whiting petroleum

Whiting Petroleum (NYSE:WLL) crossed over its 10-day moving average of $32.90 on a volume of 4.8 million 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.

Whiting Petroleum share prices have moved between a 52-week high of $92.92 and a 52-week low of $24.13 and are now trading 38% above that low price at $33.37 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 0.7%.

Whiting Petroleum has overhead space with shares priced $33.37, or 21.8% below the average consensus analyst price target of $42.68. The stock should find initial resistance at its 50-day moving average (MA) of $34.87 and further resistance at its 200-day MA of $57.92.

By Robert Cotter
rcotter@fnno.com

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