SandRidge Energy Inc

SD remains in a medium-term downtrend as evidenced by successive lower highs and lower lows. Price is trading below declining EMAs with muted volume on bounces. Short-term timing is neutral, suggesting waiting for rally into the 9/20 EMA area for execution. Oversold extreme conditions warn of a potential countertrend bounce, but structural risk persists. We plan to trim on a rally into the EMAs at the upper resistance zone.

• ↑Production averaged 18.6 MBOE/day (+4% YoY; oil +31%), boosting volumes
• ↑Revenue grew 17% YoY to ~$50M, adjusted EBITDA $33.7M
• ↓Natural gas prices declined, impacting NGL volumes and cash flow