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Shares of Tidewater Fall Below Previous 52-Week Low

By Shiri Gupta

Tidewater (NYSE:TDW) traded today at a new 52-week low of $1.98. This new low was reached on above average trading volume as 3.1 million shares traded hands, while the average 30-day volume is approximately 1.6 million shares.

Tidewater Inc. provides offshore supply vessels and marine support services to the offshore energy exploration, development, and production industry. The Company tows and anchor-handles mobile drilling rigs and equipment, transports supplies and personnel, and supports pipelaying and other offshore construction activities.

Potential upside of 666.7% exists for Tidewater, based on a current level of $2.00 and analysts' average consensus price target of $15.33. The stock should run into initial resistance at its 50-day moving average (MA) of $7.38 and subsequent resistance at its 200-day MA of $10.51.

Over the past year, Tidewaterhas traded in a range of $1.98 to $31.80 and are now at $2.00. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.0% while the 200-day MA has slid 2.2%.

SmarTrend is tracking the current trend status for Tidewater and will alert subscribers who have TDW in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows tidewater

Ticker(s): TDW