We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that,...
It looks to me like this chart has hit bottom.
The ATR is approaching a previous bottom, RSI is trending upwards, but price isn't quite following yet.
I'll save you some time doing DD - This company is a bag of crap - A huge pile of debt and cashflow concerns.
.. but it's always darkest before the dawn, and $80+ WTI and a pile of new orders is what these guys...
A classic trend reversal as indicated by the 72.8% bump and a 72.8% retrace; the Cypher Pattern is in the final leg with a great upside potential.
Current price of $6.44; potential longer term target of approx. $37 by the end of Jan '21.
EES ;)
MACD is looking stronger with green getting wider. Trading with huge volume on both candles that gaped up. No news on the company on why it went down or why it went up.
KLX Energy Services Holdings, Inc. engages in the provision of completion, intervention and production services and products to onshore oil and gas producing regions. It operates through the following geographical segments: Southwest, Rocky Mountains and Northeast. The company was founded in 2018 and is headquartered in Wellington, FL.
Since May 2019, KLX Energy Services Holdings Inc (KLXE) has suffered a relentless decline, which saw prices fall to $2.55 by early April of this year. Throughout 2020 prices have ebbed and flowed reaching $17.49 on the 9th of June, which marked the top for this year so far. Since then prices have tumbled back to the $3 handle, creating a nice multi-month bottoming...
