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Archrock: The Only Oilfield Services Gainer

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Oilfield services gainers

In this article, we’ll analyze the top percentage gainers from the oilfield services sector in the United States for the current week (which started on January 15, 2018).

To compile our list of top oilfield services gainers, we’ve analyzed oilfield services companies with market caps of greater than $100 million and average volumes of greater than 100,000 shares as of last week.

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Archrock: The only oilfield services gainer in the current week

This week, Archrock (AROC) has been the only gainer among its oilfield services peers. AROC rose from its previous week’s close of $10.45 to $10.50 on January 16—a modest rise of close to half a percentage point. There’s been no news release from the company this week.

On January 16, AROC traded with positive momentum in the morning session. At its session high, AROC was trading at a gain of almost 4%. However, AROC was repelled from its 50-day moving average and fell in the afternoon session to close the day with a modest rise of ~0.5%. On the day, AROC formed a classic reversal candle on the daily chart.

On January 16, Archrock was trading at $10.50, whereas its 50-day and 200-day moving averages stood at $10.05 and $10.11, respectively.

In general, there’s a negative sentiment surrounding oilfield services stocks this week. This negativity is evident in the fall of more than 2% seen by the VanEck Vectors Oil Services ETF (OIH), which represents an index of stocks from the oilfield services industry.

In comparison, the SPDR Dow Jones Industrial Average ETF (DIA) has been nearly flat with a modest fall of ~0.03% in the current week.

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