Tetra Technologies (TTI) is an energy services and solutions company focused on calcium chloride, completion fluids and associated products and services, comprehensive water management solutions, frac flowback, production well testing, and offshore rig cooling. Sounds like services that are specialized and needed.
Let's check out the charts in light of Wednesday's upgrade of the stock by TheStreet's Quant Ratings service.
In the daily bar chart of TTI, below, I can see that the shares made a low in March on heavy trading volume. Share prices slowly improved until later in June when they took off to the upside. TTI now trades above the rising 50-day moving average line and the rising 200-day moving average line. The 50-day line is close to crossing above the 200-day line for a bullish golden cross buy signal.
The On-Balance-Volume (OBV) line shows strength from late June as trading volume increased. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line.
In the weekly Japanese candlestick chart of TTI, below, I can see that prices have been in a wide sideways trading range for a little more than two years. Buying interest (support) has emerged in the $2.50 area while the $5.50 area has capped the upside.
The weekly OBV line is turning upwards and the MACD oscillator is bullish.
In this daily Point and Figure chart of TTI, below, I can see a potential upside price target in the $9 area. A trade at $6.00 should refresh the uptrend.
In this weekly Point and Figure chart of TTI, below, I used close-only prices with a five-box reversal filter. Here the software suggests a price target in the $14 area.
Bottom-line strategy: Regular readers of
Kamich's Korner on Real Money should know that I like stocks that have a positive fundamental story or better quantitative readings AND strong charts. We have that with TTI.
Traders could go long TTI around $5 risking to $4. Consider buying more TTI on strength above $6. My upside price target is $14 for now.
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