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Pengrowth Energy Corporation: New 52-Week Low Set Today (PGH)

By Amy Schwartz

Pengrowth Energy Corporation (NYSE:PGH) traded at a new 52-week low today of $5.70. Approximately 326,000 shares have changed hands today, as compared to an average 30-day volume of 1.3 million shares.

Pengrowth Energy Corp. is an oil and gas operating company. The Company has assets located across the Western Canadian Sedimentary Basin and offshore Nova Scotia. Pengrowth has business units in light oil, heavy oil, conventional gas, shallow and unconventional gas, offshore gas, and oil sands.

Pengrowth Energy Corporation has overhead space with shares priced $5.78, or 22.7% below the average consensus analyst price target of $7.48. Pengrowth Energy Corporation shares should first meet resistance at the 50-day moving average (MA) of $6.37 and find additional resistance at the 200-day MA of $6.41.

Over the past year, Pengrowth Energy Corporationhas traded in a range of $5.70 to $7.22 and are now at $5.78. In the last five trading sessions, the 50-day moving average (MA) has fallen 2% while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Pengrowth Energy Corporation on August 1st, 2014 by issuing a Downtrend alert when the shares were trading at $6.30. Since that call, shares of Pengrowth Energy Corporation have fallen 8.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows pengrowth energy corporation

Ticker(s): PGH