A 52 Week Low for Nexen

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A 52 Week Low for Nexen

Published on Wednesday, 14 December 2011 11:34 Written by Christian Paolinetti

nxy New York, December 14th (TradersHuddle.com) - Shares of Nexen Inc. (NYSE:NXY) booked a new 52 week low by trading below $13.88, traders are definitely monitoring Nexen's price action to see if this move attracts further selling, or it this last push down sets a tradable bottom in the stock.

Nexen Inc. (NYSE:NXY), operates as an energy company and explores for, develops, produces and markets crude oil, natural gas and power. Its oil and gas exploration and development activities are conducted in the North Sea, Canada, Gulf of Mexico, offshore West Africa, and Yemen. Nexen is headquartered in Calgary, Canada.

Nexen is currently trading -4.31% versus its previous trading session close, and it has calculated support and resistance at $14.56 and $16.78 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading lower by -1.12% from its previous trading close, which means that Nexen stock is underperforming the overall market.

UPDATE: Canaccord Genuity Upgrades Nexen - Benzinga
Benzinga's Top Upgrades - Benzinga
Nexen Q1 Profit Drops 15% - Benzinga
Nexen Stock To Go Ex-dividend Tomorrow (NXY) - TheStreet.com
Nexen Announces First Oil at Usan - Benzinga
UPDATE: Raymond James Upgrades Nexen To Outperform - Benzinga
Nexen Posts Decline In Q4 Profit - Benzinga
BMO Capital Markets Upgrades Nexen from Market Perform to Outperform, Raises PT from $18 to $21 - Benzinga
Nexen Stock Hits New 52-Week Low (NXY) - TheStreet.com
Nexen Stock To Go Ex-dividend Tomorrow (NXY) - TheStreet.com

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