StockCall Scrutinizes WPX Energy, Denbury Resources, Cobalt Intl. Energy, and Continental Resources
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For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/pdfnews/pdfnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130402:nPn4028697 LONDON, April 2, 2013 /PRNewswire/ -- The oil and gas industry is seeing a major shift due to the shale oil revolution in the U.S. The shale oil boom is expected to make U.S. the world's largest producer of oil in the next few years. The shale boom offers independent oil & gas companies such as WPX Energy Inc. (NYSE: WPX), Denbury Resources Inc. (NYSE: DNR), Cobalt International Energy Inc. (NYSE: CIE), and Continental Resources Inc. (NYSE: CLR) significant opportunities. Oil & gas companies are also looking to benefit from a rebound in U.S. and Chinese economy. On Monday, though, oil & gas stocks struggled, as the broad market slipped on the back of weaker-than-expected U.S. manufacturing data. StockCall reviewed the Independent Oil & Gas industry and chose WPX, DNR, CIE, and CLR for its technical coverage. These free reports can be seen for free at http://www.stockcall.com/signup WPX Energy Inc.'s shares fell sharply in trading yesterday, extending its losses from previous trading sessions. The stock closed 1.25% lower at $15.82, taking its losses in the last three trading sessions to nearly 3.50%. The company's shares have seen a sharp pullback after the stock failed to break through $17 resistance level. The stock's MACD has crossed below the signal line, which is a bearish signal. The bearish trend is further confirmed by recent volume activity. Download the free research on WPX by signing up now at http://www.StockCall.com/WPX040213.pdf Denbury Resources Inc.'s shares fell sharply in trading on Monday. The stock touched an intra-day low of $18.12 yesterday before finishing the day 2.41% lower at $18.20. Denbury Resources Inc.'s shares have now fallen more than 4.50%. The stock has seen a sharp pullback after the stock failed to break through $19 resistance level. Despite the recent losses, the stock has gained more than 12.30% so far in 2013, compared to a gain of more than 9.50% for the S&P 500. Shares of DNR, however, have slipped below their 50-day moving average, which is a bearish signal. The stock's MACD has also crossed below the signal line, which further confirms a bearish trend. Register for today's free analysis on DNR at http://www.StockCall.com/DNR040213.pdf Cobalt International Energy Inc. was another major loser in the oil & gas sector yesterday. The stock fell to an intra-day low of $27.62 before finishing the day 1.70% lower at $27.72. The company's shares had an excellent run in March, gaining more than 14.30%. The pullback on Monday, therefore, was likely due to some profit booking. Cobalt International Energy's shares are still trading well above their 50-day and 200-day moving averages. The stock currently has support at around $27. Free report on CIE can be accessed by registering at http://www.StockCall.com/CIE040213.pdf Shares of Continental Resources Inc. edged higher on Monday; however, the gains were limited. The stock ended the day 0.12% higher at $87.03 after touching an intra-day high of $87.25. Its shares have fallen more than 1.10% in the last three trading sessions. Despite the recent pullback, the stock is still up more than 18% for the year, outperforming the S&P 500, which has gained more than 9.50% in the same period. Continental Resources' shares are currently trading above their 50-day and 200-day moving averages. Register with StockCall and download the research on CLR for free at http://www.StockCall.com/CLR040213.pdf About StockCall.com StockCall.com is a financial website where investors can have easy, precise and comprehensive research and opinions on stocks making the headlines. Sign up today to talk to our financial analyst at http://www.stockcall.com SOURCE StockCall.com Contact Person: William T. Knight, Email: firstname.lastname@example.org, Contact Number: +1(646)396-9857 (9:00 am EST - 01:30 pm EST)
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