Good Investment Prospects? Parker Drilling Company (PKD) and Cincinnati Bell Inc (CBB)
New York, NY – GDP INSIDER – 04/09/2015.
This article discusses three companies: Parker Drilling Company (NYSE:PKD) and Cincinnati Bell Inc (NYSE:CBB)
Parker Drilling Company (NYSE:PKD) had a high trading with 0.776 million shares changing hands compared to its 30 day average trading volume of 0.644 million. The stock traded between $3.76 and $4.01 before closing at its opening price of $3.89 with no change on the day. The stock has been trading between $2.61 and $3.67 for the last three months with the largely oil focused drilling and management services company suffering from the lack of new contracts, due to the slump in oil prices. Despite the energy sector’s woes, Parker Drilling Company is now outperforming the S&P 500 with the stock up 26.38% for the year so far, compared to the S&P 500 which has only gained 1.12% over the same period. With the stock now experiencing a bullish MACD crossover the ticker may continue to increase further in the short term, but without the oil industry getting some positive news, it is unlikely that the stock will make significant gains making it a hold at best.
Cincinnati Bell Inc (NYSE:CBB) carried on trending upwards yesterday with the stock increasing 2.23% or $0.08 to close at $3.66 on low trading of 1.04 million shares, compared to its 30 day average trading volume of 1.14 million. The full service provider of regional entertainment and communications has been steadily increasing in value since it hit its 52 week low of $2.85 at the end of January. The stock has now gained 14.73% so far this year, outperforming the S&P 500 which is only up 1.12% for the same period. Cincinnati Bell Inc is already trading very close to its one year target estimate of $3.88 and despite the fact that the MACD is still diverging, its current RSI of 58.71 shows that the stock may be heading towards its resistance level and without some strong positive results, may level out or start to fall back again over the near term.
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