Liberty Oilfield Services Inc - LBRT
Despite having fallen out of its upward trend, I am still bullish about this stock for several different reasons:
1) The RSI is indicating that LBRT is nearly oversold
2) LBRT is capable of finding support at around $9.33
3) LBRT is currently undervalued based on yesterday's movements between high, low, and closing price.
4) Although downgraded, on August 03, 2021, "Morgan Stanley" gave a "$17.00 - $15.50" rating for LBRT. The price target was set to $10.05+1.2%.
5) Although downgraded, on August 02, 2021, "The Goldman Sachs Group" set their price target to $10.19→4.3%, giving it a neutral rating.
6) The overall consensus for a price target is currently $12.63, which is much higher than 180 days ago when it was $9.25, and only slightly lower than 30 days ago when it was $12.70.
7) The price target upside has only increased over the past 180 days from 14.42% to 31.52%
8) There appears to be a pattern with the earnings where it flips back and forth, so what are the odds of them being positive the next time around?
On the downside, volume fell today by -22.67% while the price increased by 2.89%. Taking that into consideration, falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days for the worse. It is highly volatile, which also makes people cautious about buying into the stock.
Here is my forecast for the last days of the remaining months of 2021. They are based on the starting point of the initial trend that came out of the lows from March 2020's decline:
Date | Forecasted Closing Price
08/31/2021 | $12.97
09/30/2021 | $12.96
10/29/2021 | $12.96
11/30/2021 | $11.32
12/31/2021: $11.33
On a scale of STRONG SELL, SELL, WEAK SELL, HOLD, WEAK BUY, BUY, and STRONG BUY, I currently give it a WEAK SELL for the time being until it starts showing some strength for any traders, but for people like me who are investing for the long term, this stock is a good buy.
1) The RSI is indicating that LBRT is nearly oversold
2) LBRT is capable of finding support at around $9.33
3) LBRT is currently undervalued based on yesterday's movements between high, low, and closing price.
4) Although downgraded, on August 03, 2021, "Morgan Stanley" gave a "$17.00 - $15.50" rating for LBRT. The price target was set to $10.05+1.2%.
5) Although downgraded, on August 02, 2021, "The Goldman Sachs Group" set their price target to $10.19→4.3%, giving it a neutral rating.
6) The overall consensus for a price target is currently $12.63, which is much higher than 180 days ago when it was $9.25, and only slightly lower than 30 days ago when it was $12.70.
7) The price target upside has only increased over the past 180 days from 14.42% to 31.52%
8) There appears to be a pattern with the earnings where it flips back and forth, so what are the odds of them being positive the next time around?
On the downside, volume fell today by -22.67% while the price increased by 2.89%. Taking that into consideration, falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days for the worse. It is highly volatile, which also makes people cautious about buying into the stock.
Here is my forecast for the last days of the remaining months of 2021. They are based on the starting point of the initial trend that came out of the lows from March 2020's decline:
Date | Forecasted Closing Price
08/31/2021 | $12.97
09/30/2021 | $12.96
10/29/2021 | $12.96
11/30/2021 | $11.32
12/31/2021: $11.33
On a scale of STRONG SELL, SELL, WEAK SELL, HOLD, WEAK BUY, BUY, and STRONG BUY, I currently give it a WEAK SELL for the time being until it starts showing some strength for any traders, but for people like me who are investing for the long term, this stock is a good buy.
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