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Upgrade Alert for Consol Energy (CNX)
Feb 01, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) --
Consol Energy (NYSE:CNX) was upgraded from Sell to Underperform at CLSA today. The stock closed yesterday at $31.34 on volume of 3.8 million shares, above average daily volume of 2.8 million. CONSOL Energy Inc. produces high-BTU bituminous coal, and also coalbed methane gas. The Company primarily produces pipeline-quality coalbed methane gas from coal properties in the Northern and the Central Appalachian basin, other western basins, and oil and gas from properties in the Appalachian and Illinois Basins.
Consol Energy share prices have moved between a 52-week high of $38.42 and a 52-week low of $26.41 and closed yesterday at 19% above that low price at $31.34 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 0.2%.
Consol Energy has overhead space with shares priced $31.34, or 24.0% below the average consensus analyst price target of $41.22. The stock should find initial resistance at its 200-day moving average (MA) of $31.64 and further resistance at its 50-day MA of $32.16.
SmarTrend is monitoring the recent change of momentum in Consol Energy. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Consol Energy in search of a potential trend change.
Write to Chip Brian at cbrian@mysmartrend.com
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