Bring on the Pump


As a former competitive bodybuilder, there are few things more satisfying than catching a good pump.

It’s like the high after hitting a big win on a trade – and today we’re combining the two – sort of.
Today’s potential sleeper stock is ProPetro Holding Corp. (PUMP):
This is a one year lookback on the daily chart.
As you can tell, the ticker suits the price action…
It’s gone from a high of $16.93 to a low of $7.25 just last fall with plenty of pumps in between…
Are we nearing the next one? Short answer: Yes.
I absolutely despise making predictions since the market is out of my control, so here’s what you need to know when looking at this chart.

Again, I’m strictly looking at the price movement.

I’ve drawn in a Fibonacci Retracement from trough to peak of the most recent upside run.

It looks to be consolidating for now…

But the first thing I noticed is that we’ve got a retracement down to the 78.6% level which has held extremely well. Typically, if this fails, all bets are off.

In the last couple of weeks, the price finally broke under the lows it had held since the turn of the year, but you can see that this didn’t last long… That’s a bullish sign.

Dip before the rip? Possibly…

Even better is that PUMP wasn’t demolished yesterday despite the broader market.

From here, we can take yesterday’s Before the Bell lesson and apply the price target concept derived from previous breaking points.

For a swing, the highlighted area marked with $12.00 at dead center would be the ultimate target with the recent breakdown around ~$10.85 as the first.

(That’s the end of the first leg up.)

I’d look for an entry between $8.75-$9.20, max.
This fits well with the Fibonacci levels for a favorable buying zone with less risk.
I say this because if $8.39 fails, I’d get out quickly to keep reward-to-risk high and potential loss low…
Bring on the PUMP.
Keep moving,


This material is not an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Any performance results discussed herein represent past performance, not a guarantee of future performance, and are not indicative of any specific investment. Due to the timing of information presented, investment performance may be adjusted after the publication of this report. There can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this communication will be profitable, equal any corresponding indicated historical performance levels or be suitable for your portfolio.

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