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Argan Inc: The Losing Streak Continues (AGX)

By David Diaz

Shares of Argan Inc (NYSE:AGX) traded today at $36.00, breaking its 52-week low. Approximately 208,000 shares have changed hands today, as compared to an average 30-day volume of 192,000 shares.

There is potential upside of 49.6% for shares of Argan Inc based on a current price of $36.10 and an average consensus analyst price target of $54.00. The stock should find initial resistance at its 50-day moving average (MA) of $39.42 and further resistance at its 200-day MA of $49.53.

Argan, Inc., through its subsidiary, designs and builds energy plants. The Company's energy plants include traditional gas as well as alternative energy including biodiesel, ethanol, and renewable energy sources such as wind power and solar.

In the past 52 weeks, Argan Inc share prices have been bracketed by a current low of $36.00 and a high of $69.95 and are now at $36.10. The 200-day and 50-day moving averages have moved 0.65% lower and 0.71% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Argan Inc on November 15th, 2017 by issuing a Downtrend alert when the shares were trading at $61.65. Since that call, shares of Argan Inc have fallen 39.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows argan inc

Ticker(s): AGX