Midstates Petroleum Company (NYSE:MPO) Stock Oversold

Midstates Petroleum Company (NYSE:MPO) Stock Oversold

Midstates Petroleum Company (NYSE:MPO) Stock Oversold

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are ranging.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 16.29.

The projected lower bound is: 14.55.

The projected closing price is: 15.42.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 22 white candles and 27 black candles for a net of 5 black candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 5.6061. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 14 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 25.35. This is where it usually bottoms. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 14 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -148.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 13 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 7 period(s) ago.

Rex Takasugi – TD Profile

MIDSTATES PTRLUM closed down -0.360 at 15.450. Volume was 13% above average (neutral) and Bollinger Bands were 59% wider than normal.

Open High Low Close Volume___
15.750 16.050 15.360 15.450 34,610

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 17.10 16.96 15.74
Volatility: 27 33 46
Volume: 19,656 28,895 38,221

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

MIDSTATES PTRLUM is currently 1.9% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of MPO.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on MPO.N and have had this outlook for the last 1 periods. Our momentum oscillator is currently indicating that MPO.N is currently in an oversold condition.

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