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Recent 52-Week Low Surpassed in Shares of Seadrill (SDRL)

By James Quinn

Seadrill (NYSE:SDRL) traded today at a new 52-week low of $0.41. Approximately 916,000 shares have changed hands today, as compared to an average 30-day volume of 15.6 million shares.

Seadrill Ltd. provides contract drilling services. The Company's fleet includes semisubmersible rigs and jackup rigs.

Seadrill has overhead space with shares priced $0.42, or 73.6% below the average consensus analyst price target of $1.60. The stock should find initial resistance at its 50-day moving average (MA) of $3.63 and further resistance at its 200-day MA of $5.05.

Seadrill share prices have moved between a 52-week high of $15.44 and the current low of $0.41 and are currently at $0.42 per share. Over the past week, the 200-day moving average (MA) has gone down 1.9% while the 50-day MA has advanced 5.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Seadrill on April 4th, 2017 by issuing a Downtrend alert when the shares were trading at $0.88. Since that call, shares of Seadrill have fallen 50.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows seadrill

Ticker(s): SDRL