DRQ - Using the Action in Dril-quip to our Advantage
Our job as investors is to pay attention to the stocks we own. Part of that involves looking at the fundamentals, but half of the disclosure comes from looking at price action. The Dril-quip (NYSE: DRQ) data table below can help you with price action, and we have more details too. Trading plans for DRQ are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Strong | |||
| Weak | |||
| Weak | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 24.17 | |||
| P2 | |||
| 33.99 | |||
| 33.14 | |||
| 28.87 | |||
| P3 | |||
| 35.16 | |||
| 34.95 | |||
| 33.36 |
Long Term Trading Plans for DRQ
February 16, 2021, 12:15 pm ET
The Technical Summary and Trading Plans for DRQ help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this DRQ Report.
DRQ - (Long) Support Plan
The technical summary data tells us to buy DRQ near 33.36, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 33.26 to protect against excessive loss in case the stock begins to move against the trade. 33.36 is the first level of support below 35.42, and by rule, any test of support is a buy signal. In this case, if support 33.36 is being tested, a buy signal would exist.
DRQ - (Short) Resistance Plan
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.