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Unit Corp Looks to Continue to Trade Below its Annual-Low Share Price Today

By Amy Schwartz

Unit Corp (NYSE:UNT) traded today at a new 52-week low of $7.19. Approximately 63,000 shares have changed hands today, as compared to an average 30-day volume of 489,000 shares.

Unit Corp share prices have moved between a 52-week high of $29.06 and the current low of $7.19 and are currently at $7.19 per share. Over the past week, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has declined 2.9%.

There is potential upside of 269.6% for shares of Unit Corp based on a current price of $7.19 and an average consensus analyst price target of $26.57. The stock should run into initial resistance at its 50-day moving average (MA) of $9.33 and subsequent resistance at its 200-day MA of $15.93.

Unit Corporation, through its subsidiaries, contracts to drill onshore oil and natural gas wells, as well as develops, acquires, and produces oil and natural gas properties. The Company's operations are located primarily in the Anadarko and Arkoma Basins, as well as the south Texas and Permian Basins. Unit also has producing properties in other states and Canada.

SmarTrend recommended that its subscribers protect gains by selling shares of Unit Corp on February 7th, 2019 by issuing a Downtrend alert when the shares were trading at $15.41. Since that call, shares of Unit Corp have fallen 52.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows unit corp

Ticker(s): UNT