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

By James Quinn

Superior Energy (NYSE:SPN) traded at a new 52-week low today of $1.02. Approximately 238,000 shares have changed hands today, as compared to an average 30-day volume of 4.3 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.

Over the past year, Superior Energyhas traded in a range of $1.02 to $11.14 and are now at $1.02. Over the past week, the 200-day moving average (MA) has gone down 2.7% while the 50-day MA has declined 6.9%.

There is potential upside of 1,159.9% for shares of Superior Energy based on a current price of $1.02 and an average consensus analyst price target of $12.87. Superior Energy shares should first meet resistance at the 50-day moving average (MA) of $1.84 and find additional resistance at the 200-day MA of $4.63.

SmarTrend recommended that its subscribers protect gains by selling shares of Superior Energy on April 30th, 2019 by issuing a Downtrend alert when the shares were trading at $3.81. Since that call, shares of Superior Energy have fallen 72.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Superior Energy

Ticker(s): SPN