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Recent 52-Week Low Surpassed in Shares of Seaspan (SSW)

By Amy Schwartz

Seaspan (NYSE:SSW) traded at a new 52-week low today of $12.68. So far today approximately 122,000 shares have been exchanged, as compared to an average 30-day volume of 280,000 shares.

Seaspan has overhead space with shares priced $12.71, or 37.5% below the average consensus analyst price target of $20.33. The stock should find initial resistance at its 200-day moving average (MA) of $16.54 and further resistance at its 50-day MA of $17.69.

Seaspan Corp. operates a fleet of containerships. The Company's ships are chartered to customers on a long-term fixed-rate basis.

In the past 52 weeks, shares of Seaspan have traded between the current low of $12.68 and a high of $20.87 and are now at $12.71. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Seaspan on April 1st, 2016 by issuing a Downtrend alert when the shares were trading at $17.60. Since that call, shares of Seaspan have fallen 25.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows seaspan

Ticker(s): SSW