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Matador Resources Is Now on the Side of the Bulls

Guy Ortmann

Then in the middle of October, support was violated to the downside with a slight increase in trading volume. From that point, the stock went into a downtrend consisting of series of lower highs and lower lows with a well-defined downtrend line as noted. Price saw its low of the trend established near the end of December where shortly thereafter, buying volume increased causing price to finally close above the downtrend in early January.