Select Energy Services Inc. Class A Forecast and Stock Analysis
Technical WTTR stock analysis for February 21, 2019.
|Shorts||9.61% ( 2019-01-31 )|
Select Energy Services Inc. Class A fell by -2.03% in the last day from $9.83 to $9.63 The price has risen in 6 of the last 10 days and is up by 8.2% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -109 401 shares and in total 340 348 shares bought and sold for approximately $3.28 million.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the WTTR stock was $9.63. This is 2.03% less than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 5.30% from a day low at $9.44 to a day high of $9.94.
30 day high of the WTTR stock price was $9.96 and low was $8.00.
90 day high was $10.56 and low was $6.05.
52 week high for the Select Energy Services Inc. Class A - $17.86 and low - $6.05.
Select Energy Services Inc. Class A is the upper part of a very wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $10.37 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Select Energy Services Inc. Class A with 90% probability to be traded between $6.41 and $10.46 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.
Select Energy Services Inc. Class A 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 $9.36 and $8.42. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday February 20, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 67 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $8.39 and $8.06.
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, Select Energy Services Inc. Class A finds support just below today's level at $8.39. If this is broken, then the next support from accumulated volume will be at $8.06 and $7.31.
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 $0.50 between high and low, or 5.30%. For the last week, the stock has had a daily average volatility of 3.67%.
Our recommended stoploss: $9.15 (-5.03%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 1 days ago.)
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Select Energy Services Inc. Class A holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.