THE held its ground yesterday very well and did not breach its 50 day MA. I think it will go up in anticipation of earning. after that all depends on earning and guidance. I think earning will be fine. their earning has come down almost 20% and they have bought 4.7 mil shares during the quarter at $36 area.
I also think THE is the cheapest in offshore drillers and I doubled down in $31 area. I also think it is the best buyout candidate. it has a low market cap almost no debt and a CEO thay has already sold 2 other company before joining THE.