Pre-Market Analysis on WPX Energy, Denbury Resources, Cobalt International Energy, and Continental Resources

  Pre-Market Analysis on WPX Energy, Denbury Resources, Cobalt International
                      Energy, and Continental Resources

PR Newswire

LONDON, March 4, 2013

LONDON, March 4, 2013 /PRNewswire/ --

Markets ended their week with a positive note. Previous week saw markets
struggling to find direction amongst looming fear of Sequestration. The
deadline for the spending cuts is now over and this week, markets may feel
some pain as the government may take some tough measures to curtail spending.
The Dow Jones closed last week at 14,089.66, up 0.25 percent while NASDAQ was
up 0.30 percent to close at 3,169.74. Similarly, S&P also ended at a positive
note at 1,518.20, up 0.23 percent. Our research team took a look at the
Independent Oil & Gas industry which includes companies like WPX Energy Inc.
(NYSE: WPX), Denbury Resources Inc. (NYSE: DNR), Cobalt International Energy
Inc. (NYSE: CIE) and Continental Resources Inc. (NYSE: CLR). StockCall has
posted free technical research on WPX DNR CIE and CLR which can be downloaded
upon sign up at

WPX Energy Inc. shares were up on Friday's trading session, ending the day
0.99 percent up at $14.33. The stock fell to an intra-day low of $14.04, while
its intra-day high stood at $14.54. It traded 3.11 million shares for its
latest trading session. Despite the upward movement, WPX Energy has lost more
than 3.5 percent this year, compared to a gain of 6.45 percent for the S&P
500. The company's shares have strong support at around $14.19, as the stock
shows a neutral trend. The stock is trading lower than its 20-day and 50-day
moving averages price of $14.41 and $14.40 respectively. Sign up and read the
complimentary report on WPX at 

Denbury Resources traded in the range of $17.65 and $18.04 in Friday's trading
session and ended the day at $17.86, down 1.43 percent. The stock's 52 weeks
range stands at $13.13 and $20.42. Denbury Resources has lost 9.75 percent of
its value in the past 12 months, while it gained 10.25 percent so far this
year. The company is in bullish mode and may find its first support level at
$17.31. The stock may face resistance at $18.23. It is trading below its
20-day moving average of $18.49. The free report on DNR can be downloaded by
signing up now at 

Shares of Cobalt International Energy ended its previous trading session
marginally down at $24.56, down 0.45 percent. The stock remained flat so far
this year, lagging behind the broad market. It traded 1.82 million shares
during in Friday's trading session, in comparison to its usual trading volume
of 3.65 million shares. The stock has slipped from $24.75 resistance level. It
has support at around $24.48 at the moment. Cobalt International Energy is
trading below its 6-day and 20-day moving averages. Free report on CIE can be
accessed by registering at 

Continental Resources stock is in a bullish mode and is trading above its
50-day SMA of $85.71. It ended Friday's session 2.49 percent lower at $85.81.
Additionally, it oscillated in the range of $85.28 and $87.11 during the
session. The stock trades at Price/Earnings ratio of 20.98 and its beta is
1.82. The company is expected to face its first resistance level at $86.62,
while its first support level is at $83.54. Upon breaching its first
resistance level, the stock may go as high as $91.09. Register with StockCall
and download the research on CLR for free at 

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