thewealthofmarkets
Long

Long NE: Target Price $10 from $4

NYSE:NE   NOBLE CORP PLC
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NE (Noble) is near to long term support zone . NE will breakout at upside the descending channel pattern.
Try charting log scale, but I agree it'll go to $10 next yr.
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I think Oil (West Texas) is going to rebound to $75 this year, break-even prices for offshore drillers now is around $60. Offshore drillers are leverage oil.
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ckv6595 thewealthofmarkets
@thewealthofmarkets, Even before today I would said $75 oil looks unlikely this year given the Permian's ability to drill like crazy at these prices. With today's breech of the long term support line, we might see sub $3 for NE.
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What is the catalyst for NE, RIG and DO to break out of their downward trend? Seems like the offshore drilling industry is dying.
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