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Oil & Gas Drilling Industry Stocks Technical Analysis - HPArchive
- 1/17/2025 -
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Helmerich & Payne (HP) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a fourth consecutive positive week for the Helmerich & Payne (HP). During the week, the HP gained 2.12 points, or 6.19%, and closed at 36.38 on Friday, January 17, 2025. Weekly volume was -12% below average.
HP is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See HP long-term trend chart]
A long-term downtrend had started on September 14, 2023 at 46.55 and reached 29.46 on September 11, 2024. HP lost 17.09 points, or 36.71%, in 51 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 27.94 and resistance is at 40.81. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
 Medium-term trend: [See HP medium-term trend chart]
A medium-term downtrend had started on November 6, 2024 at 37.46 and reached 29.91 on December 20, 2024. HP lost 7.55 points, or 20.15%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (27.82) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. HP may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See HP weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
 Short-term trend: [See HP short-term trend chart]
A short-term uptrend had started on December 20, 2024 at 29.91 and reached 37.30 on January 17, 2025. HP gained -7.39 points, or -24.71%, in 28 days. The price is now at the 12.45% retracement level.
 Daily Technical Indicators: [See HP daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is above its signal line since December 31, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
 Candlestick pattern: [See HP candlestick chart pattern]
On Friday the chart has formed a Bearish Dark Cloud Cover Candlestick pattern. Bearish Dark Cloud Cover pattern is a trend reversal indicator which signifies the end of an uptrend and the start of a downtrend. The reliability of the Bearish Dark Cloud Cover pattern is considered a highly reliable pattern of market reversalUse the Technical Stock Screener to see the list of stocks that had a Bearish Dark Cloud Cover Candlestick pattern during the last week.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Energy |
11 |
| Industry |
Oil & Gas Drilling |
103 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
29.91 |
| Low Date |
12/20/2024 |
| High |
37.30 |
| High Date |
01/17/2025 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Broadening Descending Wedge |
| Status |
Broken Resistance |
| Resistance |
33.36 |
| Support |
27.82 |
| High |
37.46 |
| High Date |
11/06/2024 |
| Low |
29.91 |
| Low Date |
12/20/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
29.46 |
| Low Date |
09/11/2024 |
| High |
37.46 |
| High Date |
11/06/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Channel |
| Status |
Valid |
| Resistance |
40.81 |
| Support |
27.94 |
| High |
46.55 |
| High Date |
09/14/2023 |
| Low |
29.46 |
| Low Date |
09/11/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
54.59 |
| High Date |
06/08/2022 |
| Low |
29.46 |
| Low Date |
09/11/2024 |
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