Continental Resources hits fresh record highs - Analysis - 15-06-2022

Continental Resource's stock (CLR) surged 15.7% in the last session, or 9.72 points, settling at 74.22, with trading volumes surpassing 9.6 million shares, above 10-day averages of 2.3 million shares, after receiving an acquisition offer for $70 per share. 

The main upward trend dominates in the medium term, with positive pressure from the 50-day SMA, despite ongoing negative signals from the RSI after reaching overbought levels. 

Therefore we expect more gains for the stock, targeting the resistance of 80.00, provided it settles above 70.00.

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Expected trend for today: Bullish