As technology corrects, and the market broadens participation of TDW hinges on higher oil prices, the days of a dollar a gallon gasoline are over. Yes mergers loom in the horizon, since is cheaper to buy competitors at below book value than to compete with them plus synergies are also involved in this process. Better days ahead for TDW, as the low P/E expands, pay no attention to current earnings reports, they only reflect the lower prices of the past. Investors keep your eyes on the ball (oil prices)...!
I (and probably a lot of others at this board) am a fundamental analyst (with a BIG tendency toward value), but fascinated by technical analysis. Can you elaborate at how you arrived at these resistance levels for the rest of us?
Of course, ever optimistic about the stock, I'm hoping the level of support is constantly increasing with the stock price, and the level of resistance is non-existant.
Isn't it great to wake up in the morning knowing you own the largest oil service fleet in the world? GO TDW!!!!
WallStWizz......agree with you on the fundamentals on TDW, historically when oil field service sector stocks are at book value the gains are ultimately are geometric in nature. The resistance is now at 30, the upper channel at 34 descending, and the next resistance level at 40. Market breadth broadening now, oil prices rising, momentum shifting to under-performing stocks with improving fundamentals, and you know the rest, "Price Will Follow".
Preview of US Commodity Markets for Monday, April 19
New York, April 16 (Bloomberg) -- The following commodity markets in the U.S. are expected to be active Monday when floor trading resumes. Some contracts have after-hours trading before then. Crude oil for May delivery (CLK9 <Cmdty>) could rise from a 14-month high on expectations that exporters will honor an agreement to cut world crude supply by 2.7 percent. Those cuts, which were pledged last month, already are eroding a supply surplus that sent prices to 12-year lows in December, the Paris- based International Energy Agency said. Also, the almost month- long bombing of Serbian forces in Yugoslavia by the North Atlantic Treaty Organization is boosting demand for jet fuel. Oil prices are up 52 percent since mid-February. May crude oil rose 46 cents to $17.33 a barrel on the New York Mercantile Exchange, the lowest closing price since Jan. 29, 1998. (For news: NI OIL.) Natural gas for May delivery (NGK9 <Cmdty>) could rise on expectations that unseasonably hot weather in the U.S. Southwest will spur demand for gas to generate electricity for air conditioning. Temperatures could reach into the upper 90s Fahrenheit in Phoenix this weekend, according to Weather Services Corp. in Lexington, Massachusetts. Natural gas for May delivery at the Henry Hub in Louisiana fell 1.3 cents to $2.124 per million British thermal units on the Nymex. (For news: NI GAS.)
Copper for delivery in May (HGK9 <Cmdty>) could fall from a four-month high amid record exchange stockpiles and as some producers delay deciding whether to reduce production because of low prices. Broken Hill Proprietary Co., which has three copper mines in Arizona and Nevada, said it will decide by the end of May whether to close or sell the mines, which have annual capacity of 200,000 tons. Some traders are speculating the mines will be shut down. Stockpiles at warehouses monitored by the London Metal Exchange are at a record 741,350 metric tons. May copper rose 1.8 cents to 68.95 cents a pound on the Comex division of the New York Mercantile Exchange. (For news: NI COPPER.) Corn for July delivery (C N9 <Cmdty>) could rise on expectations that rainfall will put U.S. farmers behind schedule planting the nation's biggest crop. Above-average rainfall and average temperatures are forecast for much of the Midwest from April 22 to April 26, the National Weather Service said. Some fields are too wet, and the soil too cool, for planting. To be sure, farmers have until mid-May to plant corn before yieldsare reduced because of a shortened growing season. July corn fell 2.25 cents to $2.2325 a bushel on the Chicago Board of Trade. (For news: NI WHEAT.) Cattle for June delivery (LCM9 <Cmdty>) could fall after a government report showed the number of animals sent to feedlots in March rose a larger-than-expected 22 percent, signaling ample supplies this summer. Ranchers sent 1.731 million young cattle to feedlots during March, up from 1.421 million a year earlier, the U.S. Department of Agriculture said after trading closed. Analysts expected a 16 percent rise in March placements. It was the third monthly increase in placements after seven months of declines and could lead to increased supplies of market-ready cattle in June. Before the report, June cattle ended little changed, rising 0.175 cent to 63.35 cents a pound on the Chicago Mercantile Exchange. (For news: NI CATTLE.)