Precision Drilling – Drill, Baby, Drill

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Chart of the day belongs to oil services company Precision Drilling (NYSE:PDS). I found the stock by first sorting Barchart’s list of bullish moving averages by highest weighted alpha, then using the Flipchart feature to review the charts for consistent price appreciation . Since the Trend Spotter signaled a buy on 1/5, the stock has gained 76.66%

The bullish moving average list helps you find today’s best stocks with short, medium and long term bullish moving average patterns. These large-cap stocks (greater than 300 million) have a 20-day moving average above the 50-day moving average and a 50-day moving average above the 100-day moving average. When the price is above a moving average, it signals an uptrend. Additionally, these stocks have a “Buy” signal from TrendSpotter, are within 20% of their 52-week high, and have a 20-day average volume above 25,000. These additional filters have been added to showcase the best bullish moving average stocks.

TIP: Using FlipCharts, apply your own chart template with a 20, 50 and 100 day moving average to further analyze this group of stocks.

PDS precision drilling

PDS Price vs Daily Moving Averages ( )

Precision Drilling Corporation, an oil services company, provides oil and gas drilling and related products and services in North America and the Middle East. The Company operates through two segments, contract drilling services and completion and production services. The Contract Drilling Services segment provides onshore well drilling services to exploration and production companies in the oil and natural gas industry.

Services in this segment include land drilling, directional drilling and turnkey drilling; and the sourcing and distribution of oilfield supplies, as well as the manufacture, sale and repair of drilling equipment. As of December 31, 2020, it operated 227 land drilling rigs, including 109 in Canada; 105 in the United States; 6 in Kuwait; 4 in Saudi Arabia; 2 in the Kurdistan region of Iraq; and 1 in the country of Georgia.

The Completion and Production Services segment provides service platforms for well completion, workover, abandonment, maintenance and re-entry preparation services; well site accommodation; rental of oil field surface equipment; and camping and catering services to oil and natural gas exploration and production companies. This segment operated 123 well completion and workover service platforms, including 113 in Canada and 10 in the United States.

It also had approximately 1,400 oilfield rental items, including surface storage, low-flow sewage treatment, power generation, and solids control equipment; 113 accommodation units on the well site; 966 drill camp beds; 822 basic camp beds; and three cooking dinners in Canada. Precision Drilling Corporation was incorporated in 1951 and is headquartered in Calgary, Canada.

Barchart’s opinion trading systems are listed below. Please note that Barchart Opinion indicators are updated live during the session every 20 minutes and therefore may change during the day depending on market fluctuations. The indicator numbers listed below may therefore not correspond to what you see live on the Barchart.com website when reading this report.

Histogram Technical Indicators:

  • 100% Technical Buy Signals
  • 165.40+ Alpha weighted
  • Gain of 156.36% over the past year
  • Trend Spotter Buy Signal
  • Above its 20, 50 and 100 day moving averages
  • 10 new highs and a 48.97% gain in the past year
  • Relative Strength Index 77.62%
  • Technical support level at 62.45
  • Recently traded at 65.86 with a 50 day moving average of 46.58

Basic factors:

  • Market cap $825 million
  • Revenue is expected to grow by 31.60% this year and another 10.20% next year
  • Revenue is expected to increase by 79.80% this year and another 181.00% next year

Analyst and Investor Sentiment – I don’t buy stocks because everyone is buying, but I realize that if big companies and investors drop a stock, it’s hard to make money against it. -running :

  • Wall Street analysts issued 4 strong buy, 7 buy and 3 hold recommendations on the stock
  • Consensus target price at 85.18
  • Individual investors following the action on Motley Fool voted 1,453 to 43 for the stock to beat the market, with more experienced investors voting 185 to 8 for the same result.
  • 7,520 investors are watching the stock on Seeking Alpha

Summary of assessments

Factor Notes

Quantitative ranking

Sector

Energy

Industry

Oil and gas drilling

Ranked in the industry

1 of 8

Classified in the sector

29 out of 252

Ranked Overall

54 out of 4431

About Clara Barnard

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