Downtrend Spotted in Shares of Superior Energy Services (SPN)
SmarTrend identified a Downtrend for Superior Energy Services (NYSE: SPN) on February 02, 2010 at $22.95. In approximately 1 month, Superior Energy Services has returned 8% as of today's recent price of $21.11.
Superior Energy Services is currently below its 50-day moving average of $22.53 and below its 200-day moving average of $21.23. Look for these moving averages to decline to confirm the company's downward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Superior Energy Services.
Write to Chip Brian at cbrian@tradethetrend.com
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