Could SAExploration Holdings, Inc. (SAEX) Decrease Even More? The Stock Formed Bearish Double Bottom Chart Pattern

May 17, 2018 - By Jimmy Baldridge

The chart of SAExploration Holdings, Inc. (SAEX) shows a double bottom with $1.40 target or 7.00 % below today’s $1.51 share price. The 8 months chart pattern indicates high risk for the $22.53M company. It was reported on May, 17 by Finviz.com. If the $1.40 price target is reached, the company will be worth $1.58M less. Double bottoms are rare but powerful chart patterns.

The stock decreased 3.82% or $0.06 during the last trading session, reaching $1.51. About 23,914 shares traded. SAExploration Holdings, Inc. (NASDAQ:SAEX) has declined 77.04% since May 17, 2017 and is downtrending. It has underperformed by 88.59% the S&P500.

More news for SAExploration Holdings, Inc. (NASDAQ:SAEX) were recently published by: Globenewswire.com, which released: “SAExploration Announces First Quarter 2018 Consolidated Financial Results” on May 15, 2018. Nasdaq.com‘s article titled: “SAExploration Announces First Quarter 2018 Earnings Release and Conference Call Schedule” and published on May 11, 2018 is yet another important article.

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 $22.53 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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