Could Cactus, Inc. (WHD) Decrease Even More? The Stock Formed Bearish Ascending Triangle Pattern

October 2, 2018 - By Marie Mckinney

The stock of Cactus, Inc. (WHD) formed an ascending triangle with $35.96 target or 6.00 % below today’s $38.25 share price. The 9 months triangle pattern indicates high risk for the $2.87B company. If the $35.96 price target is reached, the company will be worth $171.90 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock decreased 0.65% or $0.25 during the last trading session, reaching $38.25. About 292,398 shares traded. Cactus, Inc. (NYSE:WHD) has 0.00% since October 2, 2017 and is . It has underperformed by 15.62% the S&P500.

Analysts await Cactus, Inc. (NYSE:WHD) to report earnings on November, 7. WHD’s profit will be $37.45 million for 19.13 P/E if the $0.50 EPS becomes a reality. After $0.46 actual earnings per share reported by Cactus, Inc. for the previous quarter, Wall Street now forecasts 8.70 % EPS growth.

Another recent and important Cactus, Inc. (NYSE:WHD) news was published by Streetinsider.com which published an article titled: “Morgan Stanley Starts Cactus, Inc. (WHD) at Overweight” on September 19, 2018.

Cactus, Inc. designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company has market cap of $2.87 billion. The Company’s principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It has a 8.26 P/E ratio. The firm also provides mission-critical field services, including 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

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