Select Water Solutions stock jumps 4.3% as Select Water Solutions forms iodine venture with ISE Chemicals

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Select Water Solutions jumps 4.30% today

Highlights

WTTR maintains strong bullish momentum, trading above all major moving averages and near its 52-week high at $20.48.
An 8.36% price gain over the past week signals sustained buying interest, with daily gains supported by bullish momentum indicators.
The stock is expected to consolidate between $18.30 and $20.10, with over an 80% probability of continued upside unless support at $18.30 fails.

The companies will utilize produced water infrastructure for these facilities across the Lower 48. Further information is available in the referenced press release.

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Sustained bullish momentum as price holds above multiple support levels

WTTR is trading at $19.18, holding solidly above the SMA-20 ($18.43), SMA-50 ($17.73), and well above the long-term SMA-200 ($13.30), suggesting strong bullish momentum across all timeframes. The Ichimoku Kijun on D1 sits at $18.90, currently acting as immediate support. For levels, near-term support is found at the Ichimoku Kijun ($18.90), with key support at SMA-50 ($17.73). Near-term resistance is at $20.48 (52-week high), while SMA-20 ($18.43) now acts as a floor after the recent breakout.

Positive momentum and recent breakout as indicators diverge near range top

Momentum indicators on D1 are bullish, with both MACD and ADX signaling buyers are in control. RSI is neutral at 51.49, while Stoch RSI and CCI give mixed signals, suggesting neither extreme overbought nor oversold conditions. BBP indicates strong buyer dominance, confirming positive intraday momentum. Although the Awesome Oscillator flashes a sell on D1, the prevailing trend is supported by other bullish signals, highlighting a short-term divergence. WTTR is trading at $19.18, up from $17.70 a week ago, marking an 8.36% gain. The price is now at the top of the weekly range, with weekly volatility at 5.14%. This strong advance reflects a clear breakout and upward momentum, supported by today's significant daily gain of 4.3%.

High probability of further gains as bullish signals and breakout risks align

For the week ahead, the anticipated range is $18.30 to $20.10, which keeps WTTR well above its 52-week low ($7.86) and within reach of the yearly high ($20.48). Based on W1 indicators (RSI, ADX, MACD, and MA-50) signaling persistent bullish conditions, there is a very high probability (more than 80%) of price increase, while the likelihood of a decline is low. Baseline scenario sees consolidation between $18.30 and $20.10. A bullish breakout above $20.10 could target new highs toward $20.48, while a bearish move below $18.30 would bring SMA-50 ($17.73) back into play as support.

Previously it was reported that Select Water Solutions was leveraging advanced research and development to optimize water chemistry and enhance value for operators. This article adds a new dimension by examining current operational trends, with the prevailing scenario suggesting investors should closely monitor developments in R&D-driven efficiencies as a potential catalyst for future growth.

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