At the American oilfield service, a certain bottom was found. After watching the charts for a very long time, I came to the conclusion that the oilfield service market will not go bankrupt after all. VAL has good contracts, but the company's shares have been subjected to panic sales. Against the background of 11 amendments. The next half year will show how local...
All,
I think VAL might break out. Please lookup the company first. This is not a long term investment, but could at least fill the gap or get close. Also pay attention to the S&P and overall market every day now.
All,
I rarely say go all in.. etc. On this one I would without a doubt buy in and set a market stop loss. Penny stock or not the weekly volume spikes indicate a big trend reversal. Not only that the pattern is so wide you could be looking X2 profits with ease. Also volalitiy and enough volume to make it work.
Valaris publishes presentation in which it details its strategy for marketing floaters.
The company also hints at how it plans to address the nearest debt maturities.
I'd expect floater scrapping in the future, but using top rigs as collateral for new debt should keep Valaris afloat until the debt wall of 2024.
At that time, everything will depend on the scale of...
