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Shares of Atwood Oceanics Fall Below Previous 52-Week Low

By Amy Schwartz

Atwood Oceanics (NYSE:ATW) traded today at a new 52-week low of $5.99. This new low was reached on below average trading volume as 622,000 shares traded hands, while the average 30-day volume is approximately 4.4 million shares.

Atwood Oceanics (NYSE:ATW) has potential upside of 66.5% based on a current price of $6.02 and analysts' consensus price target of $10.03. Atwood Oceanics shares should first meet resistance at the 50-day moving average (MA) of $8.77 and find additional resistance at the 200-day MA of $12.83.

In the past 52 weeks, Atwood Oceanics share prices have been bracketed by a current low of $5.99 and a high of $15.37 and are now at $6.02. Over the last five market days, the 200-day moving average (MA) has gone down 2.1% while the 50-day MA has advanced 2.2%.

Atwood Oceanics, Inc. operates as a global offshore drilling contractor. The Company engages in the drilling and completion of exploratory and developmental oil and gas wells. Atwood Oceanics operates mobile offshore drilling units and is constructing ultra-deepwater drillships.

SmarTrend recommended that its subscribers protect gains by selling shares of Atwood Oceanics on June 21st, 2017 by issuing a Downtrend alert when the shares were trading at $8.12. Since that call, shares of Atwood Oceanics 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 atwood oceanics

Ticker(s): ATW