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Shares of Seadrill Under Pressure, Down 1.3%

Published on Wed, 02/06/2013 - 13:25
By Peter Chu

One of today's notable stocks in decline is Seadrill (NYSE:SDRL), down 1.3% to $38.21. The S&P is trading fractionally higher to 1,512 and the Dow is trading fractionally higher to 13,986.

In the past 52 weeks, shares of Seadrill have traded between a low of $31.37 and a high of $42.34 and are now at $38.21, which is 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

There is potential upside of 13.2% for shares of Seadrill based on a current price of $38.21 and an average consensus analyst price target of $43.25. The stock should find initial support at its 200-day moving average (MA) of $38.08 and further support at its 50-day MA of $37.99.

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

By Peter Chu
pchu@fnno.com