October 30, 2019 - 12:42 PM EDT
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Unit Corp: The Losing Streak Continues (UNT)

Shares of Unit Corp. (NYSE:UNT) traded today at $2.33, breaking its 52-week low. This new low was reached on below average trading volume as 77,000 shares traded hands, while the average 30-day volume is approximately 753,000 shares.

Unit Corp. (NYSE:UNT) has potential upside of 1,028.3% based on a current price of $2.35 and analysts' consensus price target of $26.57. Unit Corp. shares should first meet resistance at the 50-day moving average (MA) of $3.11 and find additional resistance at the 200-day MA of $9.84.

Unit Corporation, through its subsidiaries, contracts to drill onshore oil and natural gas wells, as well as develops, acquires, and produces oil and natural gas properties. The Company's operations are located primarily in the Anadarko and Arkoma Basins, as well as the south Texas and Permian Basins. Unit also has producing properties in other states and Canada.

Over the past year, Unit Corp. has traded in a range of $2.33 to $25.72 and is now at $2.35. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has slid 2.2%.

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Source: NetworkNewsWire (October 30, 2019 - 12:42 PM EDT)

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