What Next For Liquid Holdings Group Inc (LIQD), Eagle Rock Energy Partners, L.P. (EROC), and Quicksilver Resources Inc (KWK)?
New York, NY – GDP INSIDER – 12/30/2014.
Liquid Holdings Group Inc (NASDAQ:LIQD), Eagle Rock Energy Partners, L.P. (NASDAQ:EROC), and Quicksilver Resources Inc (NYSE:KWK) have been trading in downtrend since quite long. Let’s examine as to how long the bearish trend can continue.
Liquid Holdings Group Inc (NASDAQ:LIQD) was one of the notable decliners in trade today. The stock plummeted by close to 10% on the back of heavy volumes which is being seen as a bearish sign. The stock witnessed a sell-off on the back of news that the company was downgraded to a “market-perform” rating by analysts at JMP Securities. Analyst at JMP securities believe that the forward growth trajectory looks weak which is being seen as a huge negative. The relative strength index for Liquid Holdings Group Inc (NASDAQ:LIQD) continues to trend lower which is a bearish sign.
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) was another notable decliner in trade today. The stock plummeted by close to 8% on the back of above average volumes which is being seen as a huge negative. The stock witnessed a sell-off on the back of the weakness in the natural gas prices. The company which generates all of its revenues from gathering and processing natural gas is to see a huge drop in revenues because of the fall in natural gas prices as cost of extraction would exceed the selling price. The relative strength index for Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) continues to trend lower which is a huge negative for the near term.
Quicksilver Resources Inc (NYSE:KWK) was a notable decliner in trade. The stock plunged by close to 8%. The sell-off in the stock was on the back of the 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 Quicksilver Resources Inc (NYSE:KWK) trades in the oversold zone but shows no signs of a reversal.
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