Recent 52-Week Low Surpassed in Shares of SandRidge Permian Trust (PER)
SandRidge Permian Trust (NYSE:PER) traded today at a new 52-week low of $12.51. So far today approximately 50,000 shares have been exchanged, as compared to an average 30-day volume of 374,000 shares.
SandRidge Permian Trust is a Delaware statutory trust formed to own royalty interests to be conveyed to the trust by SandRidge. The trust's subsidiary is a diversified oil and natural gas company with a principal focus on exploration and production as well as also owns and operates gas gathering and processing facilities and CO2 treating and transportation facilities and oil recovery.
Potential upside of 11.3% exists for SandRidge Permian Trust, based on a current level of $12.58 and analysts' average consensus price target of $14.00. The stock should find initial resistance at its 50-day moving average (MA) of $14.34 and further resistance at its 200-day MA of $14.69.
Over the past year, SandRidge Permian Trusthas traded in a range of $12.51 to $19.48 and are now at $12.58. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.5%.
SmarTrend recommended that its subscribers protect gains by selling shares of SandRidge Permian Trust on November 12th, 2013 by issuing a Downtrend alert when the shares were trading at $13.81. Since that call, shares of SandRidge Permian Trust have fallen 8.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows sandridge permian trust