The price action of Borr Drilling retested the bottom of its Accumulation range about a year ago, and now a bullish Three Drives pattern appears to be forming, one which is almost ready to extend its final upward leg. As always, I strive to render these ideas of mine so obviously that their explanation will require no words, and this forecast is no...
SDRL is a Scandavania / UK-based company supporting offshore oil drilling projects. On the daily chart I have drawn a green support trendline and a red resistance trendline from the higher weekly timeframe. Fundamentally- it has had two consecutive earnings beats. Per Tradingview, the average analyst has a price of $45 as a target and technically it...
ERX is a leveraged ETF tracking the energy sector. On the 4H chart it has been in a downtrend since mid-March. IT dropped to the bottom of the high volume area on the long term profile as well as the lowermost VWAP band. Firday May 12th marked the reversal with buying volume replacing selling volume and then a significant rise in price in the past week. ...
Drilling companies will have good times in these war times. Looks bullish. ALl those black lines are the next targets.
Borr Drilling Company has become very cheap once again. Considering the incredible rally in oil over the last year, BORR looks like an even better discount. The price action alone in BORR suggests to me that a bottom is being put in under 0.75. Regardless of my opinion, I have some tools and charts I can use to demonstrate why it is historically cheap and why I...
Look for 1.3 area for selling pressure. A lot of institutions might be cashing in their positions at this level. My resistance line should be hit-thus, closing the gap. Fundamentals are up in the air but price correction is needed. Trend is broken and support has been established.