NASDAQ:CDEV   Centennial Resource Development, Inc
Another good oil /gas company.

CDEV is currently trending up on its weekly chart and daily chart , finding support on the daily. Volume suggests that prices will not break below its 20MA. The price action suggests the stock is on the move towards its 52-week high of 20.97. It currently trades at 18.68. So, there may not be much room for growth as I would like but we still have a setup for a positive move. Considering the fundamentals, we could see a price move above the 52-week high.

CDEV has outperformed the S&P by 17 percent over the past 13 weeks, and has positive earnings per share of .09, which strong considering the rest of the industry that it sits in has negative earnings .

I see no reason why this stock can't reach its 52-week high or better.

Comments