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Monday, May 16, 2011

Brigham Exploration Company (BEXP) Technical Analysis

Rob Witt

Brigham Exploration Company (BEXP) has really fallen off the uptrend since it hit its highs at almost 38.00 in late March 2011. Since that time it has been searching for support which it may have gotten today with a solid bounce at the 200 day sma at 26.06. The technical indicators have not indicated a bottom yet but if you get another solid up day they could confirm the bounce. A close above 29.85 would be bullish as it would be the first higher high in a couple months.

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