[February 14, 2012] Traders Get Bullish on Shares of GMX Resources, Shares Up 5.5% (GMXR) Tweet Feb 14, 2012 (SmarTrend(R) Spotlight via COMTEX) -- GMX Resources (NASDAQ:GMXR) is one of today's best performing low-priced stocks, up 5.5% to $1.91 on 1.3x average daily volume. Thus far today, GMX Resources has traded 2.4 million shares, vs. average volume of 1.8 million shares per day. The stock has outperformed the Dow (5.5% to the Dow's -0.1%) and outperformed the S&P 500 (5.5% to the S&P's -0.3%) during today's trading. GMX Resources Inc. acquires and develops oil and gas properties in the United States. The Company currently holds interests in producing and undeveloped properties located primarily in Texas, Louisiana, Kansas, and New Mexico. GMX is concentrating its efforts on the acquisition and development of gas reserves. GMX Resources has overhead space with shares priced $1.91, or 9.8% below the average consensus analyst price target of $2.12. GMX Resources shares should encounter resistance at the 200-day moving average (MA) of $2.91 and support at the 50-day MA of $1.34. Over the past year, GMX Resources has traded in a range of $0.86 to $6.48 and is now at $1.91, 122% above that low. Over the past week, the 200-day moving average (MA) has gone down 2.1% while the 50-day MA has advanced 1.3%. SmarTrend is monitoring the recent change of momentum in GMX Resources. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of GMX Resources in search of a potential trend change. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]