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Recent 52-Week Low Surpassed in Shares of Helmerich & Payn (HP)

By Nick Russo

Shares of Helmerich & Payn (NYSE:HP) traded today at $38.32, breaking its 52-week low. This new low was reached on below average trading volume as 145,000 shares traded hands, while the average 30-day volume is approximately 1.6 million shares.

In the past 52 weeks, shares of Helmerich & Payn have traded between the current low of $38.32 and a high of $73.74 and are now at $38.32. The 200-day and 50-day moving averages have moved 0.83% lower and 1.91% lower over the past week, respectively.

Helmerich & Payn (NYSE:HP) has potential upside of 73.4% based on a current price of $38.32 and analysts' consensus price target of $66.44. The stock should run into initial resistance at its 50-day moving average (MA) of $47.43 and subsequent resistance at its 200-day MA of $53.83.

Helmerich & Payne, Inc. provides contract drilling of oil and gas wells in the Gulf of Mexico and South America. The Company operates land rigs and platform rigs.

SmarTrend recommended that its subscribers protect gains by selling shares of Helmerich & Payn on July 25th, 2019 by issuing a Downtrend alert when the shares were trading at $48.33. Since that call, shares of Helmerich & Payn have fallen 19.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows helmerich & payn

Ticker(s): HP