Interesting area here on WEAT. Support area. Daily divergence and oversold otherwise. Seasonality is positive. Stop would be any move below recent low. Targets tbd.
This is just to flag a key industry that, so far, has lagged the broader energy production complex. Certain individual services stocks are moving strongly, while others are languishing or making all time lows. Volume profile suggests accumulation. Something will give so this seems to be an important sector to watch in 2023.
If there is a potential bounce area, this is not a bad spot to look. LT trendline support. Measured move. Oversold on all timeframes. Stochastic divergence possible on the weekly. Time will tell, as always. Good risk reward. Stop at 4 pts. Upside two times minimum and possibly to 65ish.
I know nothing about this company or if it is a good investment but from a technical point of view this is the type of price and volume profile that initiates a longer term bullish trend. This is just a first wave though, so until volume and price expand with the next higher wave this is an idyllic aberration. Could be 'uge? No position but long biased.