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ProPetro Holding Corp (PUMP): Price Now Near $10.3; Daily Chart Shows Downtrend on 100 Day Basis

If you're a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The post ProPetro Holding Corp (PUMP): Price Now Near $10.3; Daily Chart Shows Downtrend on 100 Day Basis appeared first on ETF Daily News. ...

The Hourly View for PUMP

At the time of this writing, PUMP (Get Ratings)’s price is up $0.04 (0.44%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as PUMP has now gone up 5 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

PUMP ranks 66th in terms of today’s price percentage change out of Petroleum and Natural Gas stocks.

PUMP’s Technical Outlook on the Daily Chart

At the moment, PUMP’s price is up $0.34 (3.41%) from the day prior. PUMP has seen its price go up 8 out of the past 10 days, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. Of note is that the 100 day changed directions on PUMP; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. ProPetro Holding Corp’s price action over the past 90 days can be seen via the chart below.

PUMP

<PUMP's volume of shares traded is 169368; this is 83.21% lower than that of its 7 day average.

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PUMP: Daily RSI Analysis

  • PUMP’s RSI now stands at 100.
  • PUMP and RSI may be exhibiting divergent trends. This may be something to monitor.

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The post ProPetro Holding Corp (PUMP): Price Now Near $10.3; Daily Chart Shows Downtrend on 100 Day Basis appeared first on ETF Daily News.

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