Long Position on WHD @ $37.85 on 4/18/2019 (Momentum)

Cactus, Inc. (WHD) designs, manufactures, sells, and rents a range of wellheads and pressure control equipment.

The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

The company sells or rents its products for onshore unconventional oil and gas wells that are utilized during the drilling, completion, and production phases of its customers' wells.

It operates 14 service centers in the United States, as well as a service center in Eastern Australia.

Shares of this recent IPO have formed a bullish "cup and handle" and are expected to head higher from this formation. The 50-day moving average acts as a support for the bullish formation.

Entry Point: $37.85

Stop Loss: $35.75

Trading Range: $24.60 to $40.97

Target Price: $41.65

Updates

5/29/2019 11:26:44 AM

WHD closed at $33

Position closed on 5/29/2019 at price of $33.00 with a -12.81% loss in 41 days.

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