Trican Well Service Ltd. share price falls below 200 day moving average

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Trican Well Service Ltd. is a provider of pressure pumping and other oilfield services. The company’s share price fell below its 200-day moving average during trading on Thursday, with shares reaching a low of $3.77. The 200-day moving average is a key technical indicator used by many investors to track the long-term trend of a stock. A stock is considered to be in a long-term uptrend if it is above its 200-day moving average, and in a long-term downtrend if it is below its 200-day moving average.

Investors will be closely watching Trican’s share price in the days and weeks ahead to see if the stock can rebound back above its 200-day moving average. If Trican’s shares continue to fall, it could be a sign that the stock is headed for further losses.

Price History

Trican Well Service ($TSX:TCW) Ltd. share price fell below its 200-day moving average on Wednesday after opening at CA$3.1 and closing at CA$3.1, up by 1.0% from prior closing price of 3.1. The stock has been mostly positively media sentiment till now.

However, on Wednesday, some investors may have been spooked by the stock’s fall below the 200-day moving average. This technical indicator is often used by investors to gauge whether a stock is in a long-term uptrend or downtrend. The company is a leading provider of pressure pumping, coiled tubing, fracturing, and other well completion services to the oil and gas industry. Trican Well Service Ltd. is headquartered in Calgary, Alberta and has operations in Canada, the United States, and Australia.

VI Analysis

Trican Well Service Ltd. is a Canadian oilfield services company that provides pressure pumping and other services to the energy industry. The company’s fundamentals reflect its long term potential, and the company’s VI Risk Rating is a medium risk investment in terms of financial and business aspects. The VI App has detected 2 risk warnings in income sheet, balance sheet. Register with us to check it out.

VI Peers

In the current market, Trican Well Service Ltd faces stiff competition from Essential Energy Services Ltd, Nine Energy Service Inc, and Zhejiang Renzhi Co Ltd. In order to maintain its leading position, Trican must continue to innovate and provide value to its customers.

– Essential Energy Services Ltd ($TSX:ESN)

Essential Energy Services Ltd. is a Canadian oilfield services company that provides drilling and completion services to the oil and gas industry. The company has a market capitalization of $49.43 million and a return on equity of -4.38%. Essential Energy Services is headquartered in Calgary, Alberta, and has operations in Canada, the United States, and Australia.

– Nine Energy Service Inc ($NYSE:NINE)

Nine Energy Service Inc is an oilfield services company that provides drilling and completion services to exploration and production companies in the United States and Canada. The company has a market cap of 141.43M as of 2022 and a Return on Equity of 10.99%. Nine Energy Service Inc is headquartered in Houston, Texas.

– Zhejiang Renzhi Co Ltd ($SZSE:002629)

Zhejiang Renzhi Co Ltd is a Chinese company that manufactures and sells medical equipment. The company has a market cap of 1.79B as of 2022 and a Return on Equity of -551.14%. The company’s products include x-ray machines, MRI machines, and CT machines.

Summary

If you’re looking to invest in Trican Well Service Ltd., you may want to keep an eye on the stock’s 200 day moving average. Recently, the share price has fallen below this important level. While media sentiment has been mostly positive till now, this could be a sign that the stock is losing steam.