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Omega Protein Cp Looks to Continue to Trade Below its Annual-Low Share Price Today

By James Quinn

Omega Protein Cp (NYSE:OME) traded today at a new 52-week low of $14.50. This new low was reached on below average trading volume as 138,000 shares traded hands, while the average 30-day volume is approximately 341,000 shares.

Omega Protein Corporation produces protein-rich fish meal, fish oil, and solubles. The Company markets a variety of products derived from menhaden, an inedible fish found in coastal waters off the United States mid-Atlantic and Gulf coasts.

Omega Protein Cp has overhead space with shares priced $15.55, or 22.3% below the average consensus analyst price target of $20.00. Omega Protein Cp shares should first meet resistance at the 50-day moving average (MA) of $18.61 and find additional resistance at the 200-day MA of $19.13.

Omega Protein Cp share prices have moved between a 52-week high of $26.99 and the current low of $14.50 and are currently at $15.55 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has risen 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Omega Protein Cp on March 2nd, 2017 by issuing a Downtrend alert when the shares were trading at $22.06. Since that call, shares of Omega Protein Cp have fallen 28.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows omega protein cp

Ticker(s): OME