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Watch for Continued Losses in Shares of Ship Finance (SFL)

By David Diaz

Ship Finance (NYSE:SFL) traded at a new 52-week low today of $13.13. This new low was reached on below average trading volume as 173,000 shares traded hands, while the average 30-day volume is approximately 799,000 shares.

Ship Finance International Ltd owns and charters out ships. The Company's fleet includes crude oil tankers, oil/bulk/ore vessels, dry bulk carriers, container ships, and jack up oil rigs.

Ship Finance (NYSE:SFL) has potential upside of 6.5% based on a current price of $13.14 and analysts' consensus price target of $14.00. Ship Finance shares should first meet resistance at the 50-day moving average (MA) of $14.22 and find additional resistance at the 200-day MA of $14.64.

In the past 52 weeks, Ship Finance share prices have been bracketed by a current low of $13.13 and a high of $15.97 and are now at $13.14. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.2%.

SmarTrend is tracking the current trend status for Ship Finance and will alert subscribers who have SFL in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows ship finance

Ticker(s): SFL