Is Major Move Coming For Select Energy Services Inc (WTTR) After This Inverse H&S Pattern?

September 17, 2017 - By Stephen Andrade

The stock of Select Energy Services Inc (WTTR) formed H&SI with $16.57 price target or 8.00 % above the current $15.34 share price. The 9 months Head & Shoulders Inverse reveals low risk for the $1.05 billion company. This trade was featured by Faxor.com on Sep, 17. If the $16.57 target price is reached, the company’s valuation will be $84.00M more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock decreased 2.79% or $0.44 on September 15, reaching $15.34. About 1.12M shares traded or 397.60% up from the average. Select Energy Services Inc (NYSE:WTTR) has 0.00% since September 17, 2016 and is . It has underperformed by 16.70% the S&P500.

Select Energy Services Inc (NYSE:WTTR) Ratings Coverage

Among 2 analysts covering Select Energy Services (NYSE:WTTR), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Select Energy Services had 2 analyst reports since July 21, 2017 according to SRatingsIntel. The company was maintained on Friday, July 21 by Citigroup. As per Tuesday, September 12, the company rating was maintained by JP Morgan.

More notable recent Select Energy Services Inc (NYSE:WTTR) news were published by: Prnewswire.com which released: “Select Energy Services Announces 2017 First Quarter Earnings Release And …” on May 02, 2017, also Prnewswire.com with their article: “Select Energy Services Reports 2017 Second Quarter Results” published on August 03, 2017, Prnewswire.com published: “Select Energy Services, Inc. Prices Initial Public Offering” on April 20, 2017. More interesting news about Select Energy Services Inc (NYSE:WTTR) were released by: Law360.com and their article: “Select Energy Services Raises $122M In Below-Range IPO” published on April 22, 2017 as well as Marketwatch.com‘s news article titled: “15.34” with publication date: April 04, 2017.

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