ProPetro Holding Corp Forecast and Stock Analysis
Technical PUMP stock analysis for February 15, 2019.
|Shorts||8.30% ( 2019-01-31 )|
ProPetro Holding Corp gained 2.14% in the last trading day, rising from $17.78 to $18.16 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days and is up by 10.33% over the past 2 weeks. Volume fell in the last day by -99 313 shares, and in total, 837 969 shares bought and sold for approximately $15.22 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the PUMP stock was $18.16. This is 2.14% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 2.53% from a day low at $17.79 to a day high of $18.24.
30 day high of the PUMP stock price was $18.24 and low was $14.55.
90 day high was $19.76 and low was $11.27.
52 week high for the ProPetro Holding Corp - $20.91 and low - $11.27.
Given the current horizontal trend you can expect ProPetro Holding Corp with 90% probability to be traded between $11.90 and $19.97 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. ProPetro Holding Corp holds buy signals from both short- and long-term moving averages. In addition, 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 $17.29 and $15.39. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 07, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 84 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $14.79 and $14.57.
There is 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, ProPetro Holding Corp finds support just below today's level at $14.79. If this is broken, then the next support from accumulated volume will be at $14.57 and $14.29.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.45 between high and low, or 2.53%. For the last week, the stock has had a daily average volatility of 4.36%.
Our recommended stoploss: $17.55 (-3.36%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from pivot bottom found 6 days ago.)
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Evaluation: Strong Buy Candidate
ProPetro Holding Corp holds several positive signals and is considered to be a good choice at current levels. We expect the stock to perform great in the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.