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Archive
- 11/8/2024 -
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Helmerich & Payne (HP) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :  
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| | It was a first positive week after 3 consecutive negative weeks for the Helmerich & Payne (HP). During the week, the HP gained 3.19 points, or 9.69%, and closed at 36.12 on Friday, November 8, 2024. Weekly volume was 7% above average.
 Long-term trend: [See HP long-term trend chart]
A long-term downtrend had started on April 8, 2024 at 44.11 and reached 29.46 on September 11, 2024. HP lost 14.65 points, or 33.21%, in 22 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 27.35 and resistance is at 41.09. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See HP medium-term trend chart]
A medium-term uptrend had started on September 11, 2024 at 29.46 and reached 37.46 on November 6, 2024. HP gained -8.00 points, or -27.16%, in 8 weeks. The price is now at the 16.75% retracement level.
 Weekly Technical Indicators: [See HP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since October 11, 2024. This is an indication that the medium-term trend is up. 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 November 1, 2024 at 32.76 and reached 37.46 on November 6, 2024. HP gained -4.70 points, or -14.35%, in 5 days. The price is now at the 28.51% retracement level.
Daily Technical Indicators: [See HP daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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