TidewaterOil declined from high of 3873 on 13/07/2021 down to 1397 on 20/12/2021, since when it is undergoing healthy consolidation.
Three positive divergences occured during the period of 26/11/2021 to 18/01/2022.
Also, fundamentally, results have not declined at all to the comparable level of downfall in the prices.
Hence, it is a good price formation for upward journey from here on.
Disc.: Consult your financial advisor or apply your self study to take any investment decision on this counter.
Comment
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Even after two serious sell offs in Indian market, it respected it's previous bottom (1397) and closed just 18 points below the same and that too durinig 2 heavy sell off days only. So, we can ignore that considering special scenario and it is poised to resume it's healthy consolidation phase just to move northward further.