HP Up 5.32%, Pivot Near $35.00, Eyes $36.73–$38 Zone

Trend_Radar
03-16 20:23

$Helmerich & Payne(HP)$

Helmerich & Payne, Inc.(HP) Jumps +5.32%: Drilling Giant Tests 52-Week High, $37 Resistance in Focus

Latest Close Data

Closed at $35.65 on 2026-03-15, up +5.32% from the previous close. The stock is now just $1.08 (-2.9%) below its 52-week high of $36.73.

Core Market Drivers

  1. The strong rally is likely fueled by positive momentum in the energy sector and robust drilling activity.

  2. The company's recent operational execution and focus on high-performance rigs are attracting investor interest.

Technical Analysis

  • Volume of 1.51M shares traded with a volume ratio of 1.07 indicates healthy buying interest.

  • The RSI(6) at 64.36 is approaching overbought territory but not yet extreme, suggesting room for continued momentum.

  • However, the MACD histogram is negative at -0.14, indicating a potential short-term divergence that warrants caution.

Key Price Levels

  • Primary Support: $34.29 (Recent swing low).

  • Strong Resistance: $35.69 (Immediate prior high, now being tested).

  • Immediate Pivot: ~$35.00 (Today's midpoint, key for intraday bias).

Valuation Perspective

The stock trades at a P/S ratio of 0.87, which is attractive compared to many industrial peers.

However, the TTM P/E is negative at -11.20 due to recent earnings, while the forward P/E is elevated at ~115.62, indicating high growth expectations are priced in.

Analyst Targets

14 analysts have an average price target of $36.43, with a high of $44.00. The consensus rating leans positive, with 1 Strong Buy, 6 Buy, 8 Hold, and 2 Underperform ratings.

Weekly Outlook

Expect consolidation near the $35.50-$36.00 zone as the stock digests the recent gain and tests the $36.73 resistance. A decisive break above $36.73 could open the path toward the $38-$40 range. A failure to hold $35.00 could see a pullback toward the $34.29 support.

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  • chenobserver
    ·03-16 20:39
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    Bullish on HP! Eyeing $37 break soon [得意]
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