Expro Group Plummets 9.4%: What's Behind the Sudden Downturn?

Summary
• Expro Group (XPRO) trades at $12.48, down 9.43% intraday
• Intraday range: $12.44–$13.54, with 52-week high/low at $15.04–$6.695
• Sector-linked ETF PXJ (Invesco Oil & Gas Services ETF) down 3.59%
• Technical indicators signal short-term bearish momentum despite long-term bullish trend

Expro Group’s sharp selloff has captured market attention as the stock plunges nearly 9.5% in a single session. The decline coincides with broader weakness in the oil & gas equipment sector, as evidenced by the -3.59% drop in the Invesco Oil & Gas Services ETF (PXJ). With intraday volatility reaching 9.43% and key technical indicators flashing caution, investors are scrambling to decipher whether this is a short-term correction or a deeper structural shift.

Sector-Wide Weakness and Technical Selling Trigger XPRO’s Collapse
The 9.43% intraday drop in XPRO aligns with broader sector underperformance, as the Invesco Oil & Gas Services ETF (PXJ) fell 3.59% on the same day. While no direct company-specific news triggered the move, technical indicators and sector dynamics point to a self-reinforcing selloff. The stock’s price action—trading below its 30-day moving average ($13.97) and 200-day average ($10.79)—has attracted algorithmic selling. Additionally, the RSI (50.7) and MACD (-0.0723) suggest oversold conditions, yet the sharp decline indicates panic-driven liquidation rather than measured profit-taking.

Oil & Gas Equipment & Services Sector Weakness Drives XPRO's Sharp Decline
XPRO’s 9.43% drop mirrors the sector’s broader struggles, with Schlumberger (SLB) down 3.12% and other peers like Oceaneering International (OII) falling 6.23%. The Invesco Oil & Gas Services ETF (PXJ) has become a barometer for sector sentiment, currently down 3.59%. This synchronized decline suggests macroeconomic factors—such as waning energy demand forecasts or geopolitical risks—are amplifying selling pressure across the sector, with XPRO’s technical vulnerabilities exacerbating the move.

Navigating XPRO’s Volatility: ETFs and Options for Short-Term Positioning
• 200-day average: $10.79 (below current price)
• RSI: 50.7 (neutral to bearish)
• MACD: -0.0723 (bearish divergence)
• Bollinger Bands: $13.07–$15.18 (price near lower band)

XPRO’s technical profile suggests a short-term bearish bias, with key support at $13.07 (lower Bollinger Band) and resistance at $13.97 (30-day MA). The 50.7 RSI reading and -0.0723 MACD histogram indicate oversold conditions, but the sharp intraday drop suggests further downside risk. The Invesco Oil & Gas Services ETF (PXJ) could act as a proxy for sector sentiment, with its -3.59% decline signaling broader weakness. For options, two contracts stand out:

• XPRO20260417P12.5
- Type: Put
- Strike: $12.50
- Expiry: April 17, 2026
- IV: 33.17% (moderate)
- Delta: -0.426 (moderate sensitivity)
- Theta: -0.0017 (slow time decay)
- Gamma: 0.162 (high sensitivity to price moves)
- Turnover: $0 (illiquid)
- Leverage: 14.75%
- Payoff (5% downside): $0.26 (max(0, $12.50 - $11.86))
- Why it stands out: High gamma and moderate delta make this put option responsive to further declines, though low turnover limits liquidity.

• XPRO20260417C12.5
- Type: Call
- Strike: $12.50
- Expiry: April 17, 2026
- IV: 94.65% (elevated)
- Delta: 0.620 (high sensitivity)
- Theta: -0.0124 (moderate time decay)
- Gamma: 0.055 (modest sensitivity)
- Turnover: $0 (illiquid)
- Leverage: 4.48%
- Payoff (5% downside): $0 (max(0, $11.86 - $12.50))
- Why it stands out: Elevated IV and high delta make this call option speculative for a rebound, though illiquidity and negative payoff in a bearish scenario limit its appeal.

Trading Insight: Aggressive short-sellers may target the $12.50 put (XPRO20260417P12.5) for a 5% downside scenario, while bulls should avoid the call due to its negative payoff. Watch for a breakdown below $12.44 (intraday low) to confirm bearish momentum.

Backtest Expro Group Stock Performance
The backtest of XPRO's performance after a -9% intraday plunge from 2022 to now shows favorable results, with the ETF experiencing a maximum return of 3.97% over a 30-day period. The 3-Day win rate is 54.74%, the 10-Day win rate is 56.90%, and the 30-Day win rate is 59.27%, indicating that XPRO tends to bounce back relatively well from such significant intraday declines.

XPRO’s Freefall: Immediate Action Required as Sector Weakness Intensifies
Expro Group’s 9.43% intraday plunge reflects a confluence of sector-wide weakness and technical exhaustion. With the stock trading near its 52-week low ($6.695) and the Invesco Oil & Gas Services ETF (PXJ) down 3.59%, the near-term outlook remains bearish. Investors should monitor the $12.44 intraday low as a critical support level; a break below this could trigger further algorithmic selling. The sector leader, Schlumberger (SLB), is down 3.12%, underscoring the broader risk. Immediate action: Consider shorting XPRO via the XPRO20260417P12.5 put if the $12.44 level fails, or pivot to defensive positions in the PXJ ETF if sector weakness persists.