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Shares of Superior Energy Fall to a New 52-Week Low

By James Quinn

Shares of Superior Energy (NYSE:SPN) traded at a new 52-week low today of $8.90. This new low was reached on below average trading volume as 297,000 shares traded hands, while the average 30-day volume is approximately 3.9 million shares.

Superior Energy Services, Inc. provides the drilling, completion and production related needs of oil and gas companies. The Company plans and designs solutions specialized in oilfield services and equipment that are used throughout the life cycle of oil and gas wells.

Superior Energy (NYSE:SPN) has potential upside of 70.6% based on a current price of $9.11 and analysts' consensus price target of $15.54. The stock should run into initial resistance at its 50-day moving average (MA) of $13.52 and subsequent resistance at its 200-day MA of $13.77.

Over the past year, Superior Energyhas traded in a range of $8.90 to $19.80 and are now at $9.11. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 4.3%.

SmarTrend is monitoring the recent change of momentum in Superior Energy. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Superior Energy in search of a potential trend change.

Keywords: 52 week high/lows Superior Energy

Ticker(s): SPN