Today, I am looking at Archrock Inc, with ticker AROC, for a possible upside potential. Archrock has been doing some amazing job recently, and it's seen a growth of 200% in EPS in Q4 of 2023. The company, had an average growth of earning of 115% in past three quarters, and despite gas prices falling, this company is performing well.
Where I am planning on...
Entry: with price above 13.26
Volume: with volume greater than 1.1M
Target: 16.00 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; Based on an entry of 13.27 & target of 16.00, a stop at 12.36 gets you 3/1 Reward to Risk Ratio.
Resistance: Resistance @ 13.75 from...
Archrock provides natural gas equipment, service and maintenance. This is an area of the market I mentioned seeing a lot of strength in over the last few weeks (see Market Leaders are Failing post), and AROC is one of the top performers.
The stock came out of a textbook consolidation base last month before climbing 25% in just two weeks.
After this parabolic...
Completing a zigzag here with Wave C nearly confirmed. I love zigzags, they make predicting endpoints so much easier in so many way. With the recent drop on the SPX, it is not surprising that we are generally bearish (or shortish) on many of our positions. Archrock is another one heading down the pipe, so let it fall.
We are not in the business of getting every...
5-star analyst T J Schultz, of RBC Capital, believes AROC has a firm foundation to move forward. He writes of the stock, “We expect lower associated gas production to have an impact on AROC utilization into 2021, but we think manageable debt leverage and ample dividend coverage provide some flexibility… we think the risk-reward is decent at current levels given...
Archrock, Inc. engages in the provision of operations, maintenance, service, and equipment for oil and natural gas production, processing, and transportation applications. It operates through the Contract Operations and Aftermarket Services segments. The Contract Operations segment is comprised of equity investment in the partnership, in addition to the owned...
The final part of the puzzle is overlaying a chart pattern that lines up with your fundamental view. Once all ducks are in a row (Macro, Economic, Bottom-Up analysis) we can look to Elliott Wave to help us to enter a trade at a low-risk entry point and take advantage of a high probability trade opportunity.
I chanced upon AROC upon my scan of stock charts (which I rarely do) and this seems to be an opportunity. The movements for the last few days looks strong (with high volume).
Even though I was thinking if there could be a final wave down (there is a possibility of a final wave down to the support), I feel that the strength of the last few days strongly suggested...
At ton of volume in the last month, a double bottom and right at the 100MA which is also crossing over the 200MA.. I like this setup and you can put in a limit trade and see if you get filled.
