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Stock Investors Sell Off Shares of SandRidge Energy, Down 1.1%

Published on Thu, 03/28/2013 - 10:26
By Robert Cotter

SandRidge Energy (NYSE:SD) is a company whose shares are active, trading 1.1% lower to $5.31. The Dow Jones Industrial Average is now trading 0.2% higher to 14,561 and the S&P is trading fractionally higher to 1,565.

SandRidge Energy, Inc. explores, develops, and produces natural gas and crude oil in the United States. The areas of operation are West Texas, East Texas, and the Gulf Coast. The Company also has C02 treating and transportation facilities and tertiary oil recovery operations.

SandRidge Energy has overhead space with shares priced $5.31, or 18.5% below the average consensus analyst price target of $6.52. The stock should run into initial resistance at its 50-day moving average (MA) of $6.08 and subsequent resistance at its 200-day MA of $6.43.

In the past 52 weeks, SandRidge Energy share prices have been bracketed by a low of $4.81 and a high of $8.32 and are now at $5.31, 10% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has slid 0.2%.

By Robert Cotter
rcotter@fnno.com