SELECT ENERGY SERVICES INC - NYSE: $WTTR Nears Critical Level
After recapturing its 200 DMA in early Spring (March), the shares of SELECT ENERGY SERVICES INC - NYSE:WTTR have been trading in a narrow range working on its right-side as we can observe in the Daily chart above.
While the stock has made no real progress recently and continues to trade range-bound, WTTR nevertheless remains in decent technical shape trading above all of its important moving averages 20/50/200 DMA's, which displays a healthy technical picture.
Additionally, if one were to extend the time-frames out to both the Weekly and Monthly durations, we can see that WTTR is potentially forming and inverted H&S pattern that should it complete, would likely carry the stock to much higher levels on a longer-term timeline.
That said, both investors/traders may want to continue to monitor the action moving forward for if WTTR should take-out the $13 level at any time in the days/weeks ahead, such development may set the stage for a move into a primary $16 objective and a possible measured move into the $18-$20 zone down the road.
Thus, WTTR finds itself a stones throw from a critical level ($13) and both investors/traders may want to put the name front-and-center on their radars for further clues/evidence that a major move may be nearing in the offing.
While the stock has made no real progress recently and continues to trade range-bound, WTTR nevertheless remains in decent technical shape trading above all of its important moving averages 20/50/200 DMA's, which displays a healthy technical picture.
Additionally, if one were to extend the time-frames out to both the Weekly and Monthly durations, we can see that WTTR is potentially forming and inverted H&S pattern that should it complete, would likely carry the stock to much higher levels on a longer-term timeline.
That said, both investors/traders may want to continue to monitor the action moving forward for if WTTR should take-out the $13 level at any time in the days/weeks ahead, such development may set the stage for a move into a primary $16 objective and a possible measured move into the $18-$20 zone down the road.
Thus, WTTR finds itself a stones throw from a critical level ($13) and both investors/traders may want to put the name front-and-center on their radars for further clues/evidence that a major move may be nearing in the offing.
Trade closed: stop reached:
$WTTR stopped out.
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We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/