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Shares of Oil States Intl Has Fallen Below Previous 52-Week Low

By James Quinn

Shares of Oil States Intl (NYSE:OIS) traded at a new 52-week low today of $22.35. This new low was reached on below average trading volume as 120,000 shares traded hands, while the average 30-day volume is approximately 949,000 shares.

Potential upside of 48.5% exists for Oil States Intl, based on a current level of $23.10 and analysts' average consensus price target of $34.29. Oil States Intl shares should first meet resistance at the 200-day moving average (MA) of $28.85 and find additional resistance at the 50-day MA of $30.79.

Oil States International, Inc. provides specialty products and services to oil and gas drilling and production companies. The Company supplies connection technology for offshore oil and gas development and production, distributes tubular goods, furnishes hydraulic workover, and well control services. Oil States also provides remote site accommodations, catering, and logistics.

In the past 52 weeks, Oil States Intl share prices have been bracketed by a current low of $22.35 and a high of $41.75 and are now at $23.10. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Oil States Intl on February 17th, 2017 by issuing a Downtrend alert when the shares were trading at $36.72. Since that call, shares of Oil States Intl have fallen 37.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows oil states intl

Ticker(s): OIS