Oasis Petroleum Inc. (NYSE:OAS): Detailed technical analysis and trading indicators

Oasis Petroleum Inc. (NYSE:OAS) gained 1.60% in yesterday’s session, going up from its prior closing price of $8.76 to $8.90. The price has fallen in 6 of the last 10 days, but is still up by 1.95% during the last two weeks. Trading activity decreased by -3.16 million shares, and in total, 5.78 M shares exchanged hands for about $51.42 million. It should be noted that increasing price and decreasing volume show lack of interest and this is a warning that something has fundamentally changed.

Inside OAS’s Recent Trend

Oasis Petroleum Inc. (OAS) enjoys staying at the middle end of a sharp increasing trend in a short period of time and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 13.95% over the course of a quarter and, with 90% chance the price will be floating in the range of $8.44 and $10.62 in this timeframe.

Oasis Petroleum Inc. Technical Signals

OAS has witnessed its short term MA triggering a sell signal. Meanwhile, however, the long-term average has generated a buy signal. When the short-run moving average rises above its longer-term trend, a buy signal is created. This is because a short-run moving average that crosses its long-run moving average counterpart is seen as the initiation of an upward trend. On additional rally, the share price will meet short term resistance at around $9.06. On a drop, the stock is likely to find some support over the long run, which begins at $8.02. A buy signal will be generated if it crosses above the short term moving average. Meanwhile, however, a price crossing below the long term moving average will generate a sell signal. Its pivot point low generated buy signal on Wednesday October 04, 2017, which calls for additional surge until the stock forms a new pivot point high. There was a decrease in volume but the price rose. This is usually not interpreted as a good sign as traders widely believe falling volume should see declining stock. Investors should be watching the price action like a hawk in the coming sessions.

Oasis Petroleum Inc. (NYSE:OAS) Support And Resistance Levels

In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $8.15 and $7.86. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $8.91, $9.08 and $9.11.

It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, Oasis Petroleum Inc approaches the first support point just current price at $8.15. In case of a break, the next support we will see from accumulated volume is going to be at $7.86 and $7.46. Accumulated volume is going to prevent the price from rising further at $8.91 and this action will lead the price to take a temporary pause or stay muted for a few days.

Oasis Petroleum Inc. (OAS) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.17 between high and low, or 1.94%. The average volatility for the past week stood at 3.49%.

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