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Shares of Oceaneering International Fall Below Previous 52-Week Low

By David Diaz

Shares of Oceaneering International (NYSE:OII) traded today at $25.01, breaking its 52-week low. So far today approximately 207,000 shares have been exchanged, as compared to an average 30-day volume of 1.5 million shares.

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.

There is potential upside of 83.6% for shares of Oceaneering International based on a current price of $25.25 and an average consensus analyst price target of $46.36. The stock should run into initial resistance at its 50-day moving average (MA) of $32.14 and subsequent resistance at its 200-day MA of $37.54.

In the past 52 weeks, shares of Oceaneering International have traded between the current low of $25.01 and a high of $55.95 and are now at $25.25. 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%.

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 20.8%. 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

Ticker(s): OII