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Sappi Ltd. Breaks Below 200-Day Moving Average - Bearish for SPP
By Market News Video Staff, Wednesday, June 15, 4:29 PM ET
In trading on Wednesday, shares of Sappi Ltd. (SPP) crossed below their 200 day moving average of $5.14, changing hands as low as $5.12 per share. Sappi Ltd. shares are currently trading down about 3.2% on the day. The chart below shows the one year performance of SPP shares, versus its 200 day moving average:
Looking at the chart above, SPP's low point in its 52 week range is $3.70 per share, with $5.95 as the 52 week high point — that compares with a last trade of $5.12.
SPP operates in the Paper & Forest Products sector, among companies like Buckeye Technologies Inc. (NYSE:BKI) which is down about 3.4% today, and Louisiana-Pacific Corp. (NYSE:LPX) trading lower by about 3.6%. Below is a three month price history chart comparing the stock performance of SPP, versus BKI and LPX.
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