Michael OConnor
Sep 01, 2023 09:43 AM 0 Answers
Member Since Aug 2023
Subscribed Subscribe Not subscribe


I like the WFRD stock.  At all time highs and 246% in last year.  What are your thoughts?


I like this stock quite a bit, and it is on our leading stock list. I  would not back away just because it is up 235% in the past year and outperforming the indexes by a wide margin. Stocks that are making new highs tend to continue to make more new highs.

Fundamentally, this company is solid with their sales and earnings growth. They recently signed a five year contract with PBR. They have good cash flow and their Return on Equity could be a bit better, that would not deter me from owning this stock.

Technically, the stock (as you pointed out) is making new highs, and there is no greater sign of strength than a stock trading at all-time highs. The oil stocks are strong today, and this stock is now 4.3% above its 10ema. You can see on the daily chart it will typically trade back "down" to its 10ema  (green line) from time to time.

The weekly chart shows us that from its IPO launch (a spinoff from Grant Prideco)  in June of 2021 this stock has been a strong stock.  This stock has made many new highs along its path, and why would it stop now?

A comparison chart shows how this stock has performed against Nasdaq and S%P 500 in the past year.

I am not sure if you own this stock, or thinking of owning it soon? But, it has been trending along its moving averages for a long time, and we like to ride trends until they change.



0 Subscribers
Submit Answer
Please login to submit answer.
0 Answers
Sort By: