2nd part of the question, from looking at the charts for these 2, I am think a sell point approaching previous levels of resistance for PSI would be about $16.25 and AND about $44.75. Do those look about right to you?
AND missed on both earnings and sales estimates, while PSI beat on both earnings and sales estimates.
AND no longer benefits from pandemic-related tailwinds, and this can be seen as a positive, in that any fundamental growth going forward should be organic and reflective of the company's core operations. AND announced a buyback program for roughly 10% of its public float, and its free cash flow is fairly supportive of such a move. Management also noted that it intends to pursue future acquisitions. Although the results missed expectations, its fundamentals are strong overall, and its free cash flow has been reaccelerating.
PSI reported a good earnings release and its price had been consolidating prior to the release. Despite a 14% decline in North American drilling activity, PSI outpaced this growth and demonstrated its ability to execute at a high level. Its balance sheet is strong, it has no interest-bearing debt and a good cash balance. Just over half of its free cash flow was redirected to shareholders in the way of dividends and share buybacks in the quarter.
For an investor that is optimistic on the energy sector and transportation industry, we like these names. PSI is likely to reach resistance around the mid to high $16 range and AND around $45.