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- 4/19/2024 -
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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 for the Helmerich & Payne (HP). During the week, the HP climbed 0.17 points, or 0.41%, and closed at 41.96 on Friday, April 19, 2024. Weekly volume was -30% 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 June 8, 2022 at 54.59 and reached 30.41 on May 11, 2023. HP lost 24.18 points, or 44.29%, in 48 weeks. The price is now at the 47.77% retracement level.
 Medium-term trend: [See HP medium-term trend chart]
A medium-term uptrend had started on January 17, 2024 at 32.17 and reached 44.11 on April 8, 2024. HP gained -11.94 points, or -37.12%, in 11 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (44.25) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. HP may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See HP weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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.
The weekly MACD line is above its signal line since February 9, 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 downtrend had started on April 8, 2024 at 44.11 and reached 40.53 on April 16, 2024. HP lost 3.58 points, or 8.12%, in 8 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See HP daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 10, 2024. This is an indication that the short-term trend is down.
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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