Seadrill Booked a New High

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Seadrill Booked a New High

Published on Tuesday, 21 February 2012 12:34 Written by TradersHuddle Wire

sdrl New York, February 21st (TradersHuddle.com) - Shares of Seadrill Ltd. (NYSE:SDRL) booked a new 52 week high today by trading above $39.94, traders are definitely monitoring Seadrill's price action to see if this move attracts further buying into the stock.

Seadrill Ltd. (NYSE:SDRL) provides contract drilling services to the oil and gas industry. The Company operates in shallow to ultra-deepwater areas in harsh and benign environments utilizing a versatile fleet, which includes drillships, semisubmersible rigs, jackup rigs, and tender rigs.

Seadrill is currently trading 0.89% versus its previous trading session close, and it has calculated support and resistance at $31.63 and $39.94 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 0.34% from its previous trading close, which means that Seadrill stock is outperforming the overall market.

Note - Automated Content Created By TradersHuddle's Technical Scanner

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UPDATE: Bank of America Downgrades SeaDrill to Neutral - Benzinga
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Seadrill Stock To Go Ex-dividend Tomorrow (SDRL) - TheStreet.com

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