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The stock gained 3.4% intraday to close yesterday’s trading session at $5.23. Shares of SWN soared 22% to hit their 52-week high on September 27. Moreover, the stock is currently trading above its 50-day and 200-day moving averages, indicating an uptrend.
The stock has been gaining momentum lately, driven by investors’ optimism over the red-hot energy sector and the record rally of natural gas prices. Earlier this week, natural-gas futures rallied more than 9% to post the highest finish in nearly 13 years. Moreover, natural gas futures broke through $6.000/MMBtu for the second time this week. However, analysts expect “extremely dangerous/volatile” price swings in the near term, “where entry and exit will be feast or famine,” if the supply struggle continues.
