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Canadian Oil Sands Trust Makes a Move: Down 1.5%

Published on Wed, 02/20/2013 - 11:28
By Robert Cotter

Canadian Oil Sands Trust (NASDAQ:COSWF) is one of today's notable stocks in decline, down 1.5% to $21.17. The Dow Jones Industrial Average is now trading fractionally lower to 14,034 and the S&P is trading 0.3% lower to 1,527.

In the past 52 weeks, Canadian Oil Sands Trust share prices have been bracketed by a low of $17.71 and a high of $24.42 and are now at $21.17, 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

There is potential upside of 0.8% for shares of Canadian Oil Sands Trust based on a current price of $21.17 and an average consensus analyst price target of $21.34. The stock should discover initial support at its 50-day moving average (MA) of $20.66 and subsequent support at its 200-day MA of $20.57.

Canadian Oil Sands Trust is an open-ended investment trust that generates income from its working interest in the Syncrude Joint Venture. The Trust operates its Athabasca Oil Sands Investment Inc. subsidiary. Syncrude is involved in the mining and upgrading of bitumen from the Athabasca oil sands.

By Robert Cotter