Select Energy Services Inc. Class A Stock Forecast
Select Energy Services Inc. Class A stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 16, 2024)
The Select Energy Services Inc. Class A stock price gained 0.508% on the last trading day (Thursday, 16th May 2024), rising from $9.85 to $9.90. During the last trading day the stock fluctuated 1.27% from a day low at $9.82 to a day high of $9.95. The price has risen in 6 of the last 10 days and is up by 9.39% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 432 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $10.06 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.36% during the next 3 months and, with a 90% probability hold a price between $10.24 and $11.44 at the end of this 3-month period.
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WTTR Signals & Forecast
The Select Energy Services Inc. Class A stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $9.67 and $9.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 21.03%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Select Energy Services Inc. Class A stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.08 and $9.05. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Select Energy Services Inc. Class A finds support just below today's level at $9.08. If this is broken, then the next support from accumulated volume will be at $9.05 and $8.97.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.125 between high and low, or 1.27%. For the last week, the stock has had daily average volatility of 2.10%.
Our recommended stop-loss: $9.53 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 51 days ago.)
Trading Expectations (WTTR) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Select Energy Services Inc. Class A to open at $9.89, and during the day (based on 14 day Average True Range), to move between $9.63 and $10.17, which gives a possible trading interval of +/-$0.270 (+/-2.72%) up or down from last closing price. If Select Energy Services Inc. Class A takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $9.08, some $0.82 (8.28%) from the current price of $9.90, our system finds the risk reward attractive.
Is Select Energy Services Inc. Class A stock A Buy?
Select Energy Services Inc. Class A holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Select Energy Services Inc. Class A of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $9.89 ( 0.118%) | $9.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WTTR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.01 | 1.14 % | |
| R2 | 9.97 | 0.662 % | ||
| R1 | 9.94 | 0.364 % | ||
| Current price: | 9.90 | |||
| Support | S1 | 9.84 | -0.600 % | |
| S2 | 9.81 | -0.90 % | ||
| S3 | 9.76 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 9.90 | |||
| Support | S1 | 9.08 | -8.28% | |
| S2 | 9.05 | -8.59% | ||
| S3 | 8.97 | -9.39% |
WTTR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 24, 2024 | May 02, 2024 | May 15, 2024 | $0.0600 | 0.609% |
| 2 | Feb 06, 2024 | Feb 06, 2024 | Feb 20, 2024 | $0.0600 | 0.764% |
| 3 | Oct 26, 2023 | Nov 06, 2023 | Nov 17, 2023 | $0.0600 | 0.82% |
| 4 | Jul 27, 2023 | Aug 04, 2023 | Aug 17, 2023 | $0.0500 | 0.600% |
| 5 | Apr 25, 2023 | May 04, 2023 | May 17, 2023 | $0.0500 | 0.662% |
FAQ
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