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Superior Energy: The Losing Streak Continues (SPN)

By Nick Russo

Superior Energy (NYSE:SPN) traded today at a new 52-week low of $1.33. Approximately 710,000 shares have changed hands today, as compared to an average 30-day volume of 3.8 million shares.

Superior Energy has overhead space with shares priced $1.34, or 89.6% below the average consensus analyst price target of $12.87. Superior Energy shares should first meet resistance at the 50-day moving average (MA) of $3.28 and find additional resistance at the 200-day MA of $5.50.

In the past 52 weeks, Superior Energy share prices have been bracketed by a current low of $1.33 and a high of $11.14 and are now at $1.34. The 200-day and 50-day moving averages have moved 2.12% lower and 5.65% lower over the past week, respectively.

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.

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 63.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Superior Energy

Ticker(s): SPN