Energy Stocks bounced back from a down day on Wednesday to post a 0.525% improvement on Thursday with BMB Munai, Inc. (AMEX: KAZ) leading the charge with a jump of 12.78% to close at 0.75. The independent oil and gas company which engages in the exploration, development, and production of crude oil and natural gas is currently trading above its 50-day moving average of 0.59 while still slightly trailing its 200-day moving average of 0.80.
After announcing the successful discovery of natural gas in the West Rochelle area of the North Sea shares in Endeavour International Corporation (AMEX: END) moved up 7.03% on the day to close at 1.37. It was an active day of trading for the energy reserves company as more than 3x the average volume was moved. END is sitting above its 50-day moving average of 1.27 and 200-day moving average of 1.26.
NGAS Resources, Inc. (NASDAQ: NGAS) moved up 4.95% on the day to close at 0.5898 on lsightly highr than average volume. NGS concentrates in the exploration and production of natural gas shale plays in the eastern United States and is currently well below its 50-day moving average of 0.79 and 200-day moving average of 1.21.
Recon Technology, Ltd. (NASDAQ: RCON) saw nearly 4x their average trading volume on Thursday as shares moved up 3.68% to close at 5.92. Shares in the company, which provides products and services designed to automate and enhance the extraction of petroleum in the People’s Republic of China, are now above the 50-day moving average of 5.45 and 200-day moving average of 5.66.
GMX Resources, Inc. (NYSE GMXR) shares moved up 4.59% on Thursday to close at 4.33 on the day. The exploration, development and production company, which focuses on crude oil and natural gases in Texas, announced on Thursday that their president would be presenting at the Bank of America Merrill Lynch Energy Conference 2010. Shares remain below the 50-day moving average of 4.38 and 200-day moving average of 7.25.