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Penn West Energy Trust: The Losing Streak Continues (PWE)

Published on Mon, 02/04/2013 - 15:14
By Robert Cotter

Shares of Penn West Energy Trust (NYSE:PWE) traded at a new 52-week low today of $10.02. So far today approximately 1.3 million shares have been exchanged, as compared to an average 30-day volume of 1.8 million shares.

Penn West Energy Trust is a conventional oil and natural gas producing income trust . The Company is also involved with exploration, development, and operating activities focused in western Canada.

Over the past year, Penn West Energy Trusthas traded in a range of $10.02 to $22.37 and are now at $10.24. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 1.3%.

There is potential upside of 22.9% for shares of Penn West Energy Trust based on a current price of $10.24 and an average consensus analyst price target of $12.58. The stock should find initial resistance at its 50-day moving average (MA) of $10.90 and further resistance at its 200-day MA of $13.18.

By Robert Cotter
rcotter@fnno.com