brianclarq

ENSCO ESV VALUE TRIPLE BOTTOM SET UP FOR EARNINGS

NYSE:ESV   ENSCO PLC CLASS A ORDINARY SHARES
ESV             is trading near a 1 yr low. It is a good value at this point. However some risks include increase in supply of oil             from Libya, economic slowdown, release of strategic oil             reserves by the United States and its Allies to put pressure on Russia because of their Ukrainian actions. Likewise sanctions on Russia can back fire economically with Europe. Increased geo             political risk would sure up oil             speculation in the short run but might create a drag on the economy and also make it more likely that western countries will release more strategic oil             reserves to cap oil             prices. IEA short term forecasts had recenltly aimed their targets on oil             prices a bit lower adding to the drag. However this is a good dividend paying stock that is now at a low in a relatively strong sector compared to frothy tech and bio tech sectors. Support around this current level suggests buyers and sellers are reluctant to change their opinion until the company earnings , despite recent market downturn. I currently hold a small position in this stock and this is not buy, hold, sell advice.
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