SDRL an oil services and support company LONG

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 rates

Strong Buy. On the chart, SDRL is sitting at the confluence of convergence of moving averages

with the POC line of the volume profile and inside a symmetrical triangle which could

be considered as demonstrative of consolidation and volatility compression and sometimes

called a Bollinger Band squeeze.

I will take this long trade targeting the line just below the supply zone of the Luxalgo indicator

and setting a stop loss at the bottom of the high-volume area also marked on the chart

SDRL could be a takeover target with the buyer being any number of Big Oil companies

Should such occur share prices would escalate far beyond any current expectations.

Trade closed: target reached:

Flat toppint wicks @ target closed this trade 20% ROI