SDRL - still broadly weak

Despite a notable bounce from the low $9s to the $14s, Seadrill (SDRL) remains broadly weak. Whilst the broader market continues to make new historic highs, SDRL is not invited to the party, settling -4.8% @ $10.98. Near/mid term outlook remains bearish.


SDRL, monthly

Summary

*as noted repeatedly in recent months, I like the oil/gas drillers, but not at these prices... and more importantly... not at this time.
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SDRL... along with RIG (Transocean) and DO (Diamond Offshore), remain broadly weak... and there is little reason to believe new multi-year lows are not going to happen into the summer.

I am still highly suspicious that WTIC Oil will not hold the recent $43 low... and if Oil is in the $35/30 zone later this year... SDRL will be at least somewhat lower than current levels.