Breakout Stocks of Week 16
NASDAQ was down last week (week 15) by -3.86% ending at 13,711.00 points after falling -550.50 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are RPC Inc NYSE:RES. This stock has had a buy signal since Jan 21, 2022 when the price was $5.42 and is so far up 116.24% to $11.72. Some other companies are on our watchlist to, among these are Patterson-UTI Energy NASDAQ:PTEN Walmart Stores Inc NYSE:WMT New Gold, Inc NYSE:NGD and Nicolet Bankshares Inc NASDAQ:NCBS which all got a breakout pattern emerging.
| Date | Company | Price | Week 16 |
|---|---|---|---|
| Rpc Inc | $11.72 | $12.41 | 5.89% |
| Patterson-uti Energy | $16.27 | $17.67 | 8.64% |
| Walmart Stores Inc | $52.47 | $52.36 | -0.210% |
| New Gold, Inc | $1.82 | $1.90 | 4.40% |
| Nicolet Bankshares Inc | $91.46 | $91.45 | -0.0109% |
The RPC Inc stock price gained 7.33% on the last trading day (Friday, 8th Apr 2022), rising from $10.92 to $11.72. During the last trading day the stock fluctuated 7.48% from a day low at $11.30 to a day high of $12.14. The price has been going up and down for this period, and there has been a 2.09% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $30.81 million.
On Apr 08, 2024, it was reported that Susquehanna gave RES a "Neutral" grade with a "hold" action.
RPC Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
About RPC Inc:
RPC, Inc., through its subsidiaries, provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services segment offers pressure pumping, fracturing, acidizing, cementing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells. The Support Services segment provides a range of rental tools for onshore and offshore oil and gas well drilling, completion, and workover activities. This segment also offers oilfield pipe inspection, and pipe management and storage services, as well as well control training and consulting services. The company operates in the United States, Africa, Canada, Argentina, China, Mexico, Eastern Europe, Latin America, the Middle East, and internationally. RPC, Inc. was founded in 1984 and is headquartered in Atlanta, Georgia.
The Patterson-UTI Energy stock price gained 5.00% on the last trading day (Friday, 8th Apr 2022), rising from $15.49 to $16.27. During the last trading day the stock fluctuated 4.83% from a day low at $15.54 to a day high of $16.29. The price has risen in 7 of the last 10 days and is up by 1.02% 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, 125 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $46.57 million.
On Apr 02, 2024, it was reported that CFRA gave PTEN a "Strong Buy" grade with a "upgrade" action.
Patterson-UTI Energy holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
About Patterson-UTI Energy:
Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its contract drilling services primarily in west Texas, Appalachia, Rockies, Oklahoma, South Texas, East Texas, and Colombia. As of December 31, 2021, this segment had a drilling fleet of 192 marketable land-based drilling rigs. The Pressure Pumping Services segment offers pressure pumping services that consist of well stimulation for the completion of new wells and remedial work on existing wells, as well as hydraulic fracturing, cementing, and acid pumping services in Texas and the Appalachian region. The Directional Drilling Services segment provides a suite of directional drilling services, including directional drilling and measurement-while-drilling services; supply and rental of downhole performance motors; and software and services that enhances the accuracy of directional and horizontal wellbores, wellbore quality, and on-bottom rate of penetration. It also services equipment to drilling contractors, as well as provides electrical controls and automation to the energy, marine, and mining industries in North America and other markets; and owns and invests in oil and natural gas assets as a non-operating working interest owner located principally in Texas and New Mexico. Patterson-UTI Energy, Inc. was founded in 1978 and is headquartered in Houston, Texas.
The Walmart stock price gained 0.556% on the last trading day (Friday, 8th Apr 2022), rising from $52.18 to $52.47. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.41% from a day low at $52.07 to a day high of $52.80. The price has risen in 9 of the last 10 days and is up by 9.73% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 23 million shares were bought and sold for approximately $1.22 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On Feb 22, 2024, it was reported that Barclays gave WMT a "Overweight" grade with a "hold" action.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
About Walmart Stores Inc:
Walmart Inc. engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. The company offers grocery and consumables, which includes dairy, meat, bakery, deli, produce, dry, chilled or frozen packaged foods, alcoholic and nonalcoholic beverages, floral, snack foods, candy, other grocery items, health and beauty aids, paper goods, laundry and home care, baby care, pet supplies, and other consumable items; and health and wellness products covering pharmacy, over-the-counter drugs and other medical products, and optical and hearing services. It also provides gasoline stations and tobacco; home improvement, outdoor living, gardening, furniture, apparel, jewelry, tools and power equipment, housewares, toys, seasonal items, mattresses, and tire and battery centers; and consumer electronics and accessories, software, video games, office supplies, appliances, and third-party gift cards. In addition, the company offers fuel and financial services and related products, including money orders, prepaid cards, money transfers, and check cashing and bill payment, as well as various types of installment lending. It operates approximately 10,500 stores and various e-commerce websites under 46 banners in 24 countries. The company was formerly known as Wal-Mart Stores, Inc. and changed its name to Walmart Inc. in February 2018. The company was founded in 1945 and is based in Bentonville, Arkansas.
The New Gold, Inc stock price gained 1.11% on the last trading day (Friday, 8th Apr 2022), rising from $1.80 to $1.82. During the last trading day the stock fluctuated 2.27% from a day low at $1.80 to a day high of $1.84. The price has risen in 5 of the last 10 days but is still down by -2.15% for this period. Volume fell on the last day by -793 thousand shares and in total, 3 million shares were bought and sold for approximately $6.03 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On Apr 08, 2024, it was reported that Scotiabank gave NGD a "Sector Perform" grade with a "hold" action.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for New Gold, Inc stock to perform well in the short-term.
About New Gold, Inc:
New Gold Inc., an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada. It also operates the Cerro San Pedro mine in San Luis Potosí, Mexico. The company was incorporated in 1980 and is headquartered in Toronto, Canada.
The Nicolet Bankshares Inc stock price gained 0.274% on the last trading day (Friday, 8th Apr 2022), rising from $91.21 to $91.46. During the last trading day the stock fluctuated 1.23% from a day low at $91.13 to a day high of $92.25. The price has fallen in 8 of the last 10 days and is down by -4.13% for this period. Volume fell on the last day by -5 thousand shares and in total, 47 thousand shares were bought and sold for approximately $4.29 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On Jun 22, 2021, it was reported that National Bank gave NCBS a "Underweight" grade with a "hold" action.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
