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

By Nick Russo

Unit Corp (NYSE:UNT) shares have crossed bearishly below their 10-day moving average of $12.29 on a volume of 200K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Unit Corp has traded in a range of $3.90 to $36.23 and is now at $11.94, 206% above that low. Over the past week, the 200-day moving average (MA) has gone down 2.3% while the 50-day MA has advanced 6.7%.

SmarTrend recommended that subscribers consider buying shares of Unit Corp on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.48. Since that recommendation, shares of Unit Corp have risen 95.5%. We continue to monitor UNT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses unit corp

Ticker(s): UNT