Select Water Solutions stock jumps 4.3% as Select Water Solutions announces iodine production deal with ISE

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Select Water Solutions jumps 4.30% today

Highlights

WTTR sustains a strong uptrend, trading above major moving averages with bullish conviction across multiple timeframes.
Technical indicators signal sustained upward momentum, though some oscillators hint at near-term consolidation or caution.
Projected price range for the coming week is $18.00 to $20.00, with key support at $18.00 and major resistance at $20.48.

The companies will utilize produced water infrastructure across the Lower 48 for these facilities. Details were published in a press release.

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Bullish structure holds as prices secure support above key averages

WTTR is trading at $19.18, above all key moving averages: the SMA-20 at $18.43, the SMA-50 at $17.73, and the SMA-200 at $13.30, confirming a strong bullish structure across short-, medium-, and long-term horizons. The Ichimoku Kijun on D1 is at $18.90, now functioning as immediate support, with near-term support at the SMA-20 ($18.43) and key support at the SMA-50 ($17.73), while immediate resistance is at the recent weekly high, and key resistance is at the previous session high and the 52-week high at $20.48.

Momentum signals align with weekly gains as overbought risks emerge

Momentum remains constructive as both MACD and ADX on D1 signal "Buy," with MACD showing strong bullish conviction. RSI (51.49) and CCI (-46.60) are neutral, and Stoch RSI on D1 is also neutral despite some overbought readings intraday. BBP registers a strong buy, confirming buyers are firmly in control. WTTR has risen $1.48 (8.36%) over the past week, trading at $19.18 up from a weekly open at $17.70, currently at the very top of the weekly range as volatility stands at 5.14%. In today's session, the stock is up 4.30%, signaling strong upward momentum. Weekly performance and momentum indicators are aligned, suggesting robust bullish sentiment, though some oscillators show early signs of near-term caution.

Upside favored as bullish channel narrows risk of breakdown

For the coming week, an expected price range of $18.00 to $20.00 is projected, closely tracking this year's bullish channel between the 52-week low of $7.86 and high of $20.48. The probability of a price increase is very high (more than 80%), while the likelihood of a decline is low, given all W1 signals (RSI, ADX, MACD, MA-50) support further upside. Baseline scenario anticipates sideways consolidation between $18.00 and $20.00, with previous highs acting as resistance and the Kijun/SMA-20 band providing support. A bullish breakout above $20.00 could initiate another leg higher towards the 52-week highs, while a bearish scenario would see a drop below $18.00, exposing $17.70 as the next key support.

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