Continental Resources’ stock performance
In 2016, Continental Resources (CLR) stock mostly followed an uptrend. The downtrend in the stock in 2017 has come as a result of lower crude oil prices, which fell below $50 per barrel on March 9, 2017, and have continued to trade at sub-$50 levels since.
CLR’s falling stock has caused it to trade below its 50-day moving average for most of 2017. In 2016, CLR stock traded mostly above its 50-day moving average.
On March 24, 2017, CLR stock was trading ~9% below its 50-day moving average. It fell below its 200-day moving average in early February 2017, and it continues to trade below this level. The stock’s 50-day moving average also crossed below its 200-day moving average recently, which could be taken as a bearish sign.
On March 24, Continental Resources stock was trading ~11.6% below its 200-day moving average. Year-over-year, CLR stock has risen 46%.