Will SAExploration Holdings, Inc. (SAEX) Short Squeeze Soon? The Stock Formed a Double Bottom Pattern

June 18, 2018 - By Adrian Mccoy

The chart of SAExploration Holdings, Inc. (SAEX) shows a double bottom with $1.42 target or 3.00 % below today’s $1.46 share price. The 5 months chart pattern indicates high risk for the $21.81M company. It was reported on Jun, 18 by Finviz.com. If the $1.42 price target is reached, the company will be worth $654,390 less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.39% or $0.02 during the last trading session, reaching $1.46. About 49,682 shares traded. SAExploration Holdings, Inc. (NASDAQ:SAEX) has declined 61.25% since June 18, 2017 and is downtrending. It has underperformed by 73.82% the S&P500.

More recent SAExploration Holdings, Inc. (NASDAQ:SAEX) news were published by: Seekingalpha.com which released: “SAExploration +3% after applying for ANWR seismic work” on May 31, 2018. Also Globenewswire.com published the news titled: “Detailed Research: Economic Perspectives on Amphenol, Hologic, Newell Brands, Ciena, SAExploration, and Puma …” on June 12, 2018. Nasdaq.com‘s news article titled: “SAExploration Announces Information Regarding Dividends on Its Series A Preferred Stock” with publication date: June 15, 2018 was also an interesting one.

SAExploration Holdings, Inc., an oilfield services company, provides seismic data acquisition and logistical support services to the oil and natural gas industry in North and South America, the Southeast Asia, and West Africa. The company has market cap of $21.81 million. The Company’s seismic data acquisition services include program design, planning and permitting, camp services, survey, drilling, recording, reclamation, and in-field processing. It currently has negative earnings. The firm acquires 2D, 3D, time-lapse 4D, and multi-component seismic data on land, in transition zones between land and water, and in offshore in depths reaching 3,000 meters.

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