I like BORR here technically. I might be willing to take a speculative trade just based on what my eye is seeing. I would personally consider setting several incremental price targets within this broadening formation.
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.
Borr Drilling Ltd. engages in the provision of drilling services to the oil and gas exploration and production industry. The firm will acquire and operate drilling assets. The company was founded on August 8, 2016 and is headquartered in Hamilton, Bermuda.
BORR drilling.. Has only about 50 % debt to equity ratio as of 4Q19 and several of its rigs on contracts. Combine that with rebound in oil to take place into first part of 2021 and we have a good thing going.
The rig market still sour. Tecnical analysis might speak bearly more fore a bullis retrace/dragg uppwards, but taking in consideration the strong bearish market one should be verry carefull with setting ecact points for turns of dirrection. The drags down on all movements in this stock has had much greater time interval than uppwards. weeve seen short but strong...
