Valaris deep correction has ended

9 giu

Very strong balance sheet, excellent management, and stable backlog of fleet bookings will allow VAL to make significant money for shareholders in the years ahead.

Together with its price trend reversal it will be an assuring addition to upcoming oil long-term price trend reversal.

Short term Elliott Wave Analysis given in a note below.

9 giu

Nota

3 giorni fa

Nota

Waves count update is here. I try not to look at 15 min timeframe but here it helped a lot with counting waves.
Correction may be deep given sharp oil price drop. I believe it should end within blue rectangle based on fib levels of wave 1.