This failing legacy is on the verge of filing for bankruptcy.
See double H&S at different time frames
Horrible performance in Q1 that is also expected to get even worse in Q2. Dividends were cut by 75% yet the stock kept going up day after day as traders speculate the WH might come up with some sort of policy to give a face lift to some E&P operators and raise oil prices. WTI May futures trades below 0 and JUNE futures below $20 but still SLB went up...
Horrible performance in Q1 that is also expected to get even worse in Q2. Traders speculate the WH might come up with some sort of policy to give a face lift to some E&P operators and raise oil prices (Bloomberg/CNBC). WTI May futures trades below 0 and JUNE futures below $20 but still HAL went up ???? Whatever the WH does and whatever the Fed does like buying...
NBRV seems to be highly correlated with Russel 2000 index. Yet that correlation did not hold lately. Seems oversold and ready to take off? High risk trade!
This is just an idea, might be wrong as the markets are highly influenced by news these days. Fed might pull out another surprise and drive the market bullish suddenly. Share your comments and feedback. Always trade based on your judgment, this is not an advice just sharing some thoughts.