uploads/2017/03/DMA-2.png

How Do CLR’s Stock Movements in 2017 Compare to 2016?

By

Updated

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.

Article continues below advertisement

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%.

Advertisement

More From Market Realist