Superior Energy Services Bearish Moving Average Crossover Alert (SPN)
Superior Energy Services (NYSE:SPN) shares have crossed bearishly below their 10-day moving average of $18.38 on a volume of 751K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Superior Energy Services share prices have been bracketed by a low of $8.25 and a high of $26.95 and are now at $17.67, 114% above that low price. The 200-day and 50-day moving averages have moved 0.38% lower and 4.26% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Superior Energy Services on February 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.65. Since that recommendation, shares of Superior Energy Services have risen 78.3%. We continue to monitor SPN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses superior energy services