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Wednesday, August 10, 2011

Energy Stocks Fall Through The Floor (FXEN) (GMXR) (JRCC) (YZC) (UPL)

FX Energy, Inc. (NGM: FXEN): fell by 8.80% or $-0.6/share to $6.22. In the past year, the shares have traded as low as $2.89 and as high as $12.20. On average, 442055 shares of FXEN exchange hands on a given day and today's volume is recorded at 148659. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $8.64 area where the stock may encounter resistance.

GMX Resources Inc. (NYSE: GMXR): fell by 1.33% or $-0.0401/share to $2.97. In the past year, the shares have traded as low as $2.55 and as high as $6.48. On average, 1553990 shares of GMXR exchange hands on a given day and today's volume is recorded at 279411. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $4.60 area but be careful because the stock may face selling pressure at this level.

James River Coal Company (NASDAQ: JRCC): fell by 10.14% or $-1.33/share to $11.78. In the past year, the shares have traded as low as $12.01 and as high as $27.06. On average, 1143350 shares of JRCC exchange hands on a given day and today's volume is recorded at 425605. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $19.31 area but be careful because the stock may face selling pressure at this level.

Yanzhou Coal Mining Co (NYSE: YZC): fell by 6.91% or $-2.26/share to $30.43. In the past year, the shares have traded as low as $20.31 and as high as $41.89. On average, 254129 shares of YZC exchange hands on a given day and today's volume is recorded at 101439. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $35.29 area where the stock may encounter resistance.

Ultra Petroleum Corp. (NYSE: UPL): fell by 6.88% or $-2.8/share to $37.92. In the past year, the shares have traded as low as $37.10 and as high as $51.20. On average, 1550190 shares of UPL exchange hands on a given day and today's volume is recorded at 1102296. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $45.31 area but be careful because the stock may face selling pressure at this level.