Understanding Technical Signals From Cabot Oil & Gas Corporation (NYSE:COG)

Cabot Oil & Gas Corporation (NYSE:COG) gained 1.92% in yesterday’s session, going up from its prior closing price of $25.51 to $26.00, and has now recorded rally in 3 consecutive sessions. Many in the market will be closely watching whether this winning streak is sustainable or take a temporary pause for the next couple of trading sessions. The price has fallen in 7 of the last 10 days and is down by -3.06% over the same course of time. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 2.45 million more shares exchanged hands compared with prior day. In total, 5.77 M shares exchanged hands for about $149.96 million.

Inside COG’s Recent Trend

Cabot Oil & Gas Corporation (COG) lies in the middle of a weak rising trend in the short term and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 7.54% over the course of a quarter and, with 90% chance the price will be floating in the range of $27.34 and $29.87 in this timeframe.

Cabot Oil & Gas Corporation Technical Signals

COG is a buy based on short-term MA; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On additional rally, the share price will meet long term resistance at around $26.17. On a drop, the stock is likely to find some support over the short run, which begins at $25.83. A buy signal will be generated if it crosses above the long term moving average. Meanwhile, a price down versus the short-term MA will be a fresh sales call.

Cabot Oil & Gas Corporation (NYSE:COG) Support And Resistance Levels

Cabot Oil & Gas Corporation (COG) recorded volume accumulation so there will probably be a surplus of buyers at $25.36. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $26.58, $26.75 and $26.87.

Accumulated volume is going to prevent the price from rising further at $26.58 and this action will lead the price to take a temporary pause or stay muted for a few days.

Cabot Oil & Gas Corporation (COG) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.75 (2.96%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 2.03%.

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