Market Overview

Blue Water Publishes Ideas For Dril-Quip

Blue Water Capital Markets has published a research report for Dril-Quip Inc. (NYSE: DRQ).

In the report, Blue Water writes "DRQ is showing a growing negative divergence between price and money flow. The stock has rallied over 50% from the June 2 low and may be getting extended. We expect DRQ to pull back to “catch up” with money flow particularly if the market starts showing weakness. This may take up to a couple of weeks so we need to be patient and wait for the price range to be tested. Our work suggests significant resistance in the $67.00 - $69.00 range and we will watch how the stock behaves as it approaches that level."

Dril-Quip Inc. closed yesterday at $62.11.

Posted-In: blue water capital dril-quipAnalyst Color Initiation Analyst Ratings

 

Related Articles (DRQ)

Around the Web, We're Loving...

Get Benzinga's Newsletters