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Shares of Cie Generale de Geophysique-Veritas Receive a Boost, Up 1.4%

Published on Mon, 12/31/2012 - 11:29
By Mallory Stone

One of today's notable stocks on the rise is Cie Generale de Geophysique-Veritas (NYSE:CGV), up 1.4% to $29.89. The S&P is trading higher by 0.2% to 1,405 and the Dow is trading fractionally lower to 12,925.

Compagnie Generale de Geophysique-Veritas (CGG-Veritas) provides geophysical services and software products and manufactures geophysical equipment. The Company's products and services use seismic imaging to help the oil and gas industries explore and develop reserves. CGG-Veritas operates in the Americas, Asia-Pacific, Europe, the former Soviet Union, and Africa.

Cie Generale de Geophysique-Veritas has overhead space with shares priced $29.89, or 23.8% below the average consensus analyst price target of $39.24. The stock should find resistance at its 50-day moving average (MA) of $30.57, as well as support at its 200-day MA of $28.61.

In the past 52 weeks, Cie Generale de Geophysique-Veritas share prices have been bracketed by a low of $20.68 and a high of $34.84 and are now at $29.89, 45% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.1%.

By Mallory Stone
mstone@fnno.com