The company RPC has an important growth potential, which could lead to new highs.
From a fundamental viewpoint, the company seems solid. Firstly, it benefits from a significant growth highlighted by Thomson-Reuters analysts' forecasts. Secondly, it has large enough profits that enable to generate substantial earnings. Sales and EPS upward revisions over the last 4 months show analysts' confidence.
Technically, the evolution of the equity brought prices close to the midterm support line at USD 21.4; which acts as a protection wall from the downtrend. This area is expected to annihilate bearish possibilities and thus result in a bullish reversal. Technical indicators allow aiming at bullish targets at USD 23.46, and by extension the medium-term resistance at USD 24.9.
Therefore, long positions can be opened in RPC's shares. The USD 21.46 support should lift prices and could extend the bullish movement of recent weeks. The target of the rebound corresponds to the USD 24.9 level with a stop-loss order under the USD 21.46.
RPC, Inc. acts as a holding company for several oilfield services companies that include Cudd Energy Services, Cudd Pressure Control, Thru Tubing Solutions and Patterson Services. It provides a range of oilfield services and equipment primarily to independent and oil and gas companies, which is engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. Its segments include Technical Services and Support Services. Technical Services segment includes pressure pumping, downhole tools services, coiled tubing, snubbing and other oilfield related services. Support Services segment includes renting tools to its customers for use with onshore and offshore oil and gas well drilling, completion and workover activities. It is also engaged in oilfield cementing services in the Permian and Mid-Continent basins.
RPC, INC. 
