Shares of Oceaneering International Fall Below Previous 52-Week Low
Shares of Oceaneering International (NYSE:OII) traded today at $25.10, breaking its 52-week low. So far today approximately 180,000 shares have been exchanged, as compared to an average 30-day volume of 1.5 million shares.
In the past 52 weeks, shares of Oceaneering International have traded between the current low of $25.10 and a high of $55.95 and are now at $25.39. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.8%.
Potential upside of 82.6% exists for Oceaneering International, based on a current level of $25.39 and analysts' average consensus price target of $46.36. The stock should find initial resistance at its 50-day moving average (MA) of $32.14 and further resistance at its 200-day MA of $37.54.
Oceaneering International, Inc. is a global provider of engineered services and products to the offshore oil and gas industry. The Company offers services and products in remotely operated vehicles, mobile offshore production systems, engineering and product management, manned diving and other deep water applications. Oceaneering also serves the defense and aerospace industries.
SmarTrend recommended that its subscribers protect gains by selling shares of Oceaneering International on May 13th, 2016 by issuing a Downtrend alert when the shares were trading at $32.07. Since that call, shares of Oceaneering International have fallen 20.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows oceaneering international