Helmerich & Payne, Inc. : Benefit from the uptrend

02/15/2013 | 09:33am Opinion : Bullish above 67.9 USD Target price : 72.6 USD Stop loss: 64.2 USD

NYSE Oil / Gas Drilling

Helmerich & Payne could reach its USD 72.6 resistance.

The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because there are ready to pay a high price for the stock. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.

Technical patterns are in the green: prices are up for several months. The trend should continue in the coming trading sessions. The 20-day moving average should help to reach the USD 72.6 long term resistance.

Investors could take a long position at the current price to target USD 72.6. A stop loss will be set at USD 64.2.

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