Is Major Move Coming For SandRidge Energy, Inc. (SD) After This Inverse H&S Chart Pattern?

September 17, 2017 - By Vivian Park

The stock of SandRidge Energy, Inc. (SD) formed H&SI with $20.66 price target or 9.00 % above the current $18.95 share price. The 5 months Head & Shoulders Inverse reveals low risk for the $678.94M company. This trade was featured by Faxor.com on Sep, 17. If the $20.66 target price is reached, the company’s valuation will be $61.10M 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 1.81% or $0.35 on September 15, reaching $18.95. About 654,706 shares traded or 299.68% up from the average. SandRidge Energy, Inc. (NYSE:SD) has 0.00% since September 17, 2016 and is . It has underperformed by 16.70% the S&P500.

Wall Street await SandRidge Energy, Inc. (NYSE:SD) to release earnings on November, 14. The expected SD’s profit could reach $2.15M giving the stock 78.96 P/E in the case that $0.06 earnings per share is reported. After posting $0.23 EPS for the previous quarter, SandRidge Energy, Inc.’s analysts now forecast -73.91 % negative EPS growth.

SandRidge Energy, Inc. (NYSE:SD) Ratings Coverage

Among 6 analysts covering Sandridge Energy Inc. (NYSE:SD), 1 have Buy rating, 2 Sell and 3 Hold. Therefore 17% are positive. Sandridge Energy Inc. had 8 analyst reports since July 21, 2015 according to SRatingsIntel. As per Tuesday, July 28, the company rating was upgraded by Wunderlich. The stock has “Buy” rating by Mizuho on Wednesday, April 26. The stock of SandRidge Energy, Inc. (NYSE:SD) earned “Neutral” rating by Seaport Global on Wednesday, June 21.

More news for SandRidge Energy, Inc. (NYSE:SD) were recently published by: Seekingalpha.com, which released: “SandRidge Energy: The Legacy Of Challenges” on June 02, 2017. Newsok.com‘s article titled: “SandRidge Energy posts $23.5 million profit, expands Oklahoma drilling program” and published on August 02, 2017 is yet another important article.

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