SandRidge Permian Trust Shares Down 8.6% Since SmarTrend's Sell Call (PER)
SmarTrend identified a Downtrend for SandRidge Permian Trust (NYSE:PER) on August 22nd, 2012 at $19.42. In approximately 4 months, SandRidge Permian Trust has returned 8.58% as of today's recent price of $17.75.
Over the past year, SandRidge Permian Trust has traded in a range of $16.16 to $25.10 and is now at $17.75, 10% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.
SandRidge Permian Trust is a Delaware statutory trust formed to own royalty interests to be conveyed to the trust by SandRidge. The trust's subsidiary is a diversified oil and natural gas company with a principal focus on exploration and production as well as also owns and operates gas gathering and processing facilities and CO2 treating and transportation facilities and oil recovery.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of SandRidge Permian Trust.
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