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Penn West Energy Trust: The Losing Streak Continues (PWE)

By Shiri Gupta

Shares of Penn West Energy Trust (NYSE:PWE) traded at a new 52-week low today of $4.36. This new low was reached on below average trading volume as 1.6 million shares traded hands, while the average 30-day volume is approximately 4.3 million shares.

Penn West Energy Trust is a conventional oil and natural gas producing income trust . The Company is also involved with exploration, development, and operating activities focused in western Canada.

There is potential upside of 94.8% for shares of Penn West Energy Trust based on a current price of $4.45 and an average consensus analyst price target of $8.66. The stock should find initial resistance at its 50-day moving average (MA) of $6.33 and further resistance at its 200-day MA of $8.06.

Penn West Energy Trust share prices have moved between a 52-week high of $11.42 and the current low of $4.36 and are currently at $4.45 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 3.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Penn West Energy Trust on July 15th, 2014 by issuing a Downtrend alert when the shares were trading at $8.82. Since that call, shares of Penn West Energy Trust have fallen 49.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows penn west energy trust

Ticker(s): PWE