5.82 ev/ebitda and good technical set up
Potential rally would catch most off guard here.
When trending up it tends to love the 50 ema on the 4 hr.
NOV held the 200 sma monthly
Long 50% log scale channel support
Fib cluster support with upside targets.
Keep an eye on the 1,399 level. Could be a short.
See chart. Fib clusters
Been holding the weekly 100 ema on multiple tests.
20 ema about to cross up 100 ema on weekly. Cloud is also bullish.
Bullish price structure. Ideal stop below 17. 4x ev/ebitda.
Healthy cash flow and balance sheet.
Joint venture with Saudi Aramco.
Rowan has a joint venture with Saudi Aramco. Cash flow is healthy and enough backlog to sustain through 2020 imo. 3.5x ev/ebitda.
For kicks, this is based on TWO % based historical price action bottoms.
Longing crude sub 50. See fibs on chart.
Waiting for ideal entry of $63.
Waiting to long 61.8% extension.
Long at the 50% retrace of 2008's crash high and low. Fib cluster around 25.77
Long at 31.94.
Wait for 200 ema/sma weekly. Be aware of a lot of value traps.