Contintal resources (CLR) technical chart shows a clear upside

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Continental Resources, Inc. (CLR) is now trading with a very clear set of technicals. Taken together they paint a very compelling picture of how investors and traders should be approaching CLR. Few trading tools are as powerful, or as potentially profitable as those that are found inside the technical chart readings of a particular stock. When used efficiently, the results can be extraordinary. CLR’s most recent trading session saw the stock achieve a high of $42.92 and a low of $41.80. The high in the most recent session compares poorly to the established 52-week high of $60.30 which was set by CLR on 05/04/17. The recent low represents a 5.37% since 12/01/16 which is a good sign for traders looking to capitalize on the stock’s upside. The current trading pattern for the stock is very telling when one looks at the overall sentiment of analysts. Presently there is a target price of $59.12 set for CLR, a figure which is below the most recent high set by the stock. The stock also has a beta of 1.33. Since the beta is greater than 1, it can be interpreted that the stock is theoretically more volatile than the market – something traders will surely be keeping an eye on. More robust technical indicators are now starting to emerge for the stock and these are very helpful for traders looking to make a strong assessment of the stock’s upside. Both the Relative strength indicator (RSI) and Stochastic measures have come into play for CLR. Based on current readings for CLR, the 14-day RSI is 41.45%. This suggests that CLR is neutral, suggesting that the stock is relatively stable in terms of upward or upward price movement. The stochastic reading is also very revealing based on current readings. In this case, CLR has a stochastic reading of 45.06%. This suggests CLR is neither overbought nor oversold at prevailing levels. CLR also paints a compelling picture via its 50 and 200 SMAs. CLR, based on the current trend can be considered bearish. This sentiment has created an attitude towards the stock which can be reasonably said to be negative.

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