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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Engages in contract drilling of oil and gas wells for exploration and production companiesHelmerich & Payne, Inc. engages in contract drilling of oil and gas well.It operates through the following segments: U.S. Land, Offshore, and International Land.The U.S. Land segment operates its drilling...