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Unit Corp Crosses Below its 10-day MA (UNT)

By Amy Schwartz

Unit Corp (NYSE:UNT) shares have crossed bearishly below their 10-day moving average of $17.97 on a volume of 150K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Unit Corp have traded between a low of $3.90 and a high of $36.23 and are now at $17.82, which is 357% above that low price. The 200-day and 50-day moving averages have moved 1.8% lower and 4.63% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Unit Corp on April 20th, 2017 by issuing a Downtrend alert when the shares were trading at $20.99. Since that call, shares of Unit Corp have fallen 13.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses unit corp

Ticker(s): UNT