[May 16, 2012] Upgrade Alert for Atwood Oceanics (ATW) Tweet May 16, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Atwood Oceanics (NYSE:ATW) was upgraded from Neutral to Outperform at Macquarie today. The stock closed yesterday at $39.62 on volume of 841,000 shares, above average daily volume of 646,000. Over the past year, Atwood Oceanics has traded in a range of $30.64 to $48.91 and closed yesterday at $39.62, 29% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has slid 0.2%. Atwood Oceanics, Inc. performs contract drilling of exploratory and development oil and gas wells in offshore areas, and provides related support, management, and consulting services. The Company also provides labor, supervisory, and consulting services to operator-owned platform rigs in Australia. Atwood Oceanics (NYSE:ATW) has potential upside of 38.8% based on a current price of $39.62 and analysts' consensus price target of $55.00. The stock should find initial resistance at its 200-day moving average (MA) of $42.16 and further resistance at its 50-day MA of $44.31. SmarTrend recommended that its subscribers protect gains by selling shares of Atwood Oceanics on March 29th, 2012 by issuing a Downtrend alert when the shares were trading at $44.59. Since that call, shares of Atwood Oceanics have fallen 11.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]