Should You Bottom Fish In Resolute Energy Corp (REN), Rex Energy Corporation (REXX), and Paragon Offshore PLC (PGN)?

Posted by Nathan Alexander December 30, 2014 0 Comment 2206 views


New York, NY – GDP INSIDER  – 12/30/2014.

Resolute Energy Corp (NYSE:REN), Rex Energy Corporation (NASDAQ:REXX), and Paragon Offshore PLC (NYSE:PGN) have been spiraling downwards since last few trading sessions. This article talks about whether it is good time to bottom fish or not?

Resolute Energy Corp (NYSE:REN) was a notable percentage decline in trade. The stock plunged by close to 8%. The stock moved downwards after crude oil prices fell below the key support level of $55. The company which is engaged in exploration and processing of oil, would take a huge hit to its margins as the cost of extraction and exploration is higher than the selling cost of oil. The relative strength index for Resolute Energy Corp (NYSE:REN) trades in the oversold zone but shows no signs of a reversal which is indicative of the strong selling momentum present at the current moment.

Could REN Continue To Fall Or Will We Find Support In The Near Future? See What Is In The Cards For REN With A Complementary Trend Analysis.

Rex Energy Corporation (NASDAQ:REXX) was one of the top performers in yesterday’s trading session. The stock rallied by 4% on above average volumes which is a bullish sign. The stock was up after news came in that the company might look at selling itself and may have received offers. The stock has been in a strong downtrend over the past few months on the back of the plunge seen in crude prices which are showing no signs of reversal from the current downtrend. The relative strength index for Rex Energy Corporation (NASDAQ:REXX) has been trending lower and show no signs of reversal even on the back of the positive price action seen yesterday.

Could REXX Reverse From Here Or Will Momentum Continue? Get A Hint As To What’s Coming Next With A Free Trend Analysis Report

Paragon Offshore PLC (NYSE:PGN) has been falling since quite long period and yesterday’s trading session wasn’t any different. The catalyst for the selloff in the stock has been plunging crude oil prices which fell below the important support level of $55. The company which is engaged in exploration and processing of oil, would take a huge hit to its margins as the cost of extraction and exploration is higher than the selling cost of oil. The relative strength index for Paragon Offshore PLC (NYSE:PGN) trades in the oversold zone but shows no signs of a reversal.

Could PGN Continue To Fall Or Will We Find Support In The Near Future? See What Is In The Cards For PGN With A Complementary Trend Analysis.

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About Nathan Alexander

Nathan Alexander holds bachelor’s degrees in Journalism and European Studies from Boston University. Nathan reports round up the day’s business and financial market news and include keynote interviews with major business players and updates on Asian, European and US stock markets. He has interviewed heads of leading European banking institutions such as European Central Bank President Jean-Claude Trichet and HSBC Chairman Stephen Green, and CEOs from the business world including Microsoft founder Bill Gates, Virgin Chairman Sir Richard Branson and former Porsche President and CEO Dr Wendelin Wiedeking.

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