Is Cactus, Inc. (WHD)’s Fuel Running Low? The Stock Formed Ascending Triangle

September 16, 2018 - By Alicia Butler

The stock of Cactus, Inc. (WHD) formed an ascending triangle with $34.13 target or 4.00 % below today’s $35.55 share price. The 8 months triangle pattern indicates high risk for the $2.66B company. If the $34.13 price target is reached, the company will be worth $106.48M 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 increased 2.45% or $0.85 during the last trading session, reaching $35.55. About 227,107 shares traded. Cactus, Inc. (NYSE:WHD) has 0.00% since September 16, 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 $37.44M for 17.78 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.

Cactus, Inc. designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company has market cap of $2.66 billion. The Company’s principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It has a 7.68 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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