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Seadrill Looks to Continue to Trade Below its Annual-Low Share Price Today

By Amy Schwartz

Seadrill (NYSE:SDRL) traded today at a new 52-week low of $0.55. So far today approximately 3.1 million shares have been exchanged, as compared to an average 30-day volume of 15.6 million shares.

Seadrill share prices have moved between a 52-week high of $15.44 and the current low of $0.55 and are currently at $0.55 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.9% while the 50-day MA has advanced 5.7%.

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

Potential upside of 192.7% exists for Seadrill, based on a current level of $0.55 and analysts' average consensus price target of $1.60. The stock should run into initial resistance at its 50-day moving average (MA) of $3.63 and subsequent resistance at its 200-day MA of $5.05.

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 33.3%. 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