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Moving Average Crossover: Great News for CNOOC Limited (CEO)?

Zacks Equity Research

CNOOC Limited (CEO) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for CEO broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.

This has already started to take place, as the stock has moved lower by 15.8% in the past four weeks. Plus, the company currently has a Zacks Rank #4 (Sell) meaning that now could definitely be the time to get out of this potentially in-trouble stock.

CNOOC LTD (CEO): Free Stock Analysis Report

Zacks Investment Research