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Shares of Tesco Fall to a New 52-Week Low

By Nick Russo

Tesco (NASDAQ:TESO) traded today at a new 52-week low of $3.80. Approximately 51,000 shares have changed hands today, as compared to an average 30-day volume of 170,000 shares.

Tesco (NASDAQ:TESO) has potential upside of 106.1% based on a current price of $3.80 and analysts' consensus price target of $7.83. The stock should find initial resistance at its 200-day moving average (MA) of $7.81 and further resistance at its 50-day MA of $8.49.

Tesco Corporation is an international oilfield service company operating worldwide. The Company designs, manufactures, sells, and operates top drive and underbalanced drilling systems, completion products, and control, electrical, and hydraulic systems.

In the past 52 weeks, shares of Tesco have traded between the current low of $3.80 and a high of $12.80 and are now at $3.80. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 2.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Tesco on March 9th, 2017 by issuing a Downtrend alert when the shares were trading at $8.05. Since that call, shares of Tesco have fallen 51.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Tesco

Ticker(s): TESO