This company is in the oil equipment services business. They are dependent on the big oil companies in that they serve at their pleasure. In that sense the are a derivative of the the oil companies and should , therefore, trade in a wider range. The B-wave is clear as a bell but so far at least the stock has not moved that much. It should head for $55 for starters (RIG , Transocean, is already at the bottom but it has a few other issues). In any case , if this stock is a guide the oil sector still has a lot of trouble ahead. By the way, this one trades at a P/E of 21,; it won’t need a lot of compression to get to the first target.
Halliburton is in the same category, except that it benefits from vice-presidential interference. The chart and it’s message are the same.
