Exterran Holdings, Inc., together with its subsidiaries, provides
operations, maintenance, service, and equipment for the oil and natural
gas production, processing, and transportation applications. As of
December 31, 2013, the company provided contract operations services
primarily using a fleet of 7,765 natural gas compression units with an
aggregate capacity of approximately 3,429,000 horsepower in North
America; and a fleet of 992 units with an aggregate capacity of
approximately 1,255,000 horsepower internationally. Exterran Holdings,
Inc. was founded in 1990 and is headquartered in Houston, Texas.
Take a look at the 1-year chart of Exterran (NYSE: EXH) below with added notations:
EXH broke its key level of support of $41 (black) in October and the
stock has been declining ever since. Over the past month the stock has
formed a common pattern known as a rectangle. A minimum of (2)
successful tests of the support and (2) successful tests of the
resistance will give you the pattern.
EXH’s rectangle pattern had formed a $33 resistance (blue), which was
also a prior support, and a $31 support (red). At some point the stock
had to break one of those two levels, and on Friday EXH broke the $31
support.
The Tale of the Tape: EXH broke down from its
rectangle pattern. The ideal short opportunity would be on a rally up to
or near the prior $31 support. A break back above $31 could negate the
forecast for a move higher.
Please share this article
No comments:
Post a Comment