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CARBO Ceramics: The Losing Streak Continues (CRR)

By Amy Schwartz

CARBO Ceramics (NYSE:CRR) traded today at a new 52-week low of $9.75. Approximately 166,000 shares have changed hands today, as compared to an average 30-day volume of 658,000 shares.

Potential upside of 110.5% exists for CARBO Ceramics, based on a current level of $9.82 and analysts' average consensus price target of $20.67. CARBO Ceramics shares should first meet resistance at the 50-day moving average (MA) of $16.55 and find additional resistance at the 200-day MA of $19.83.

CARBO Ceramics share prices have moved between a 52-week high of $47.04 and the current low of $9.75 and are currently at $9.82 per share. Over the past week, the 200-day moving average (MA) has gone down 2.1% while the 50-day MA has declined 2.1%.

CARBO Ceramics Inc. produces and supplies ceramic proppants for use in the oil and gas industry. The Company also provides foundry metal casting, and industrial mineral grinding. Carbo has manufacturing plants located worldwide.

SmarTrend recommended that its subscribers protect gains by selling shares of CARBO Ceramics on September 6th, 2016 by issuing a Downtrend alert when the shares were trading at $12.28. Since that call, shares of CARBO Ceramics have fallen 18.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows carbo ceramics

Ticker(s): CRR