Superior Energy Services, Inc. provides specialized oilfield services
and equipment to oil and gas companies in the United States, the Gulf
of Mexico, and internationally. It operates through four segments:
Drilling Products and Services; Onshore Completion and Workover
Services; Production Services; and Technical Solutions. The Drilling
Products and Services segment rents tubulars, and manufactures and rents
bottom hole tools, including stabilizers, non-magnetic drill collars,
and hole openers, as well as rents temporary onshore and offshore
accommodation modules and accessories. The Onshore Completion and
Workover Services segment offers pressure pumping services consisting of
hydraulic fracturing and high pressure pumping services used to
complete and stimulate production in new oil and gas wells. . The
Production Services segment provides intervention services. The
Technical Solutions segment offers pressure control services, completion
tools and services, end-of-life services, and marine technical
services.
Take a look at the 1-year chart of Superios (NYSE: SPN) below with the added notations:
SPN declined rapidly last fall, paused for a month or so, and then
dropped again to its December low. Over that time the $23 price level
(blue) has become very important to the stock. Not only was $23 a key
support in October and November, but it has also been a tough resistance
for the stock here as of late.
The Tale of the Tape: SPN has a key level at $23. A
trader could enter a long position on a break above $23 with a stop
placed under the level. However, if traders are bearish on SPN, a short
trade could be made instead if the stock rallies up to $23.
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