Bearish MACD for CGG Veritas – Tale of the Tape

CGG Veritas (ADR)’s (CGV) MACD indicator has entered into bearish territory with a reading of -1.4047. The Zacks #5 Rank (“Strong Sell”) stock decreased more than 11% to $25.58 in morning trade. The Zacks Consensus Estimate for the year ending December 2011 has decreased by 12 cents over the past week to 68 cents per share.