EXCO Resources NL (XCO) : Traders are bullish on EXCO Resources NL (XCO) as it has outperformed the S&P 500 by a wide margin of 4.44% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.71%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.88% in the last 1 week, and is up 3.88% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 5.89% and the 50-Day Moving Average is 8.55%.The 200 Day SMA reached 6.66%
EXCO Resources NL (NYSE:XCO): After opening at $1.07, the stock dipped to an intraday low of $1.0311 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $1.08 and the buying power remained strong till the end. The stock closed at $1.07 for the day, a gain of 1.90% for the day session. The total traded volume was 758,886. The stocks close on the previous trading day was $1.07.
EXCO Resources Inc. is an oil and natural gas company engaged in the exploration, exploitation, acquisition, development and production of onshore United States oil and natural gas properties with a focus on shale resource plays. The Companys principal operations are conducted in certain United States oil and natural gas areas including Texas, Louisiana and the Appalachia region. The Company focuses on the development of its core areas. This includes a portfolio of both oil and natural gas assets that provide the Company the optionality to allocate capital to enhance its returns under various commodity price environments. The Company holds acreage positions in three shale plays in the United States: East Texas and North Louisiana, where it holds around 85,300 net acres in the Haynesville and Bossier shales; South Texas, where it holds approximately 52,900 net acres in the Eagle Ford shale; and Appalachia, where it holds around 157,000 net acres prospective in the Marcellus shale.