Quicksilver Resources @ Year Lows

Published on Thursday, 12 April 2012 11:34 Written by TradersHuddle Wire

New York, April 12th (TradersHuddle.com) - Shares of Quicksilver Resources Inc. (NYSE:KWK) booked a new 52 week low by trading below $4.13. Traders are definitely monitoring Quicksilver's price action to see if this move attracts further selling, or if this last push down sets a tradable bottom in the stock.

Quicksilver Resources Inc. (NYSE:KWK) is an exploration and production company engaged in the development and production of long-lived natural gas and oil properties onshore North America. Based in Fort Worth, Texas, the company is widely recognized as a leader in the development and production of natural gas from unconventional reservoirs including shale gas, coal bed methane and tight gas sands.

Quicksilver Resources is currently trading 2.17% versus its previous trading session close, and it has calculated support and resistance at $4.96 and $5.94 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 higher by 1.1% from its previous trading close, which means that Quicksilver Resources stock is outperforming the overall market.