Shares of CARBO Ceramics Has Fallen Below Previous 52-Week Low
CARBO Ceramics (NYSE:CRR) traded at a new 52-week low today of $9.46. So far today approximately 56,000 shares have been exchanged, as compared to an average 30-day volume of 658,000 shares.
Over the past year, CARBO Ceramicshas traded in a range of $9.46 to $47.04 and are now at $9.64. Over the last five market days, the 200-day moving average (MA) has gone down 2.1% while the 50-day MA has declined 2.1%.
CARBO Ceramics Inc. produces and supplies ceramic proppants for use in the oil and gas industry. The Company also provides foundry metal casting, and industrial mineral grinding. Carbo has manufacturing plants located worldwide.
CARBO Ceramics has overhead space with shares priced $9.64, or 53.4% below the average consensus analyst price target of $20.67. The stock should run into initial resistance at its 50-day moving average (MA) of $16.55 and subsequent resistance at its 200-day MA of $19.83.
SmarTrend recommended that its subscribers protect gains by selling shares of CARBO Ceramics on September 6th, 2016 by issuing a Downtrend alert when the shares were trading at $12.28. Since that call, shares of CARBO Ceramics have fallen 21.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows carbo ceramics