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Shares of Ferrellgas Partners Fall Below Previous 52-Week Low

By James Quinn

Shares of Ferrellgas Partners (NYSE:FGP) traded at a new 52-week low today of $9.75. So far today approximately 1 million shares have been exchanged, as compared to an average 30-day volume of 206,000 shares.

There is potential upside of 104.1% for shares of Ferrellgas Partners based on a current price of $9.92 and an average consensus analyst price target of $20.25. Ferrellgas Partners shares should first meet resistance at the 50-day moving average (MA) of $17.76 and find additional resistance at the 200-day MA of $18.76.

Ferrellgas Partners share prices have moved between a 52-week high of $24.99 and the current low of $9.75 and are currently at $9.92 per share. The 200-day and 50-day moving averages have moved 0.32% lower and 0.27% higher over the past week, respectively.

Ferrellgas Partners, L.P. sells, distributes, markets, and trades propane and other natural gas liquids. The Partnership serves residential, industrial/commercial, portable tank exchange, agricultural, wholesale and other customers throughout the United States, the District of Columbia, and Puerto Rico.

SmarTrend recommended that its subscribers protect gains by selling shares of Ferrellgas Partners on September 13th, 2016 by issuing a Downtrend alert when the shares were trading at $18.09. Since that call, shares of Ferrellgas Partners have fallen 41.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows ferrellgas partners

Ticker(s): FGP