Finally! I found something! I have a stock that I would like to mention. The stock of the day is......... RIG aka Transocean! This is a Swedish company! For those who doesnt know what this company does, here are some fundamentals about the company. Transocean builds and rents deep water rigs to companies like Exxon, BP, and many other oil companies! It is the leader in oil drilling industry!Transocean has a market cap about 13.41 billions and it is a large cap company. The company pays a dividend of 0.75 a share every quarter with a yield of 8%. The reason I am talking about this company is that the company has been on a downtrend for sometime and I think RIG which is the ticker symbol could possibly go below $37. I have been monitoring the stock and the moving-average of 20 & 50 days indicate selling pressure. I think this is a good company but just as any other businesses, competition is inevitable. In addition, with the weaknesses in oil prices it means oil companies will be more likely to pay less for rental. I do not see this downtrend to continue. In fact, I think it could have an upside potential. My price target for the year is $38-$40. Please be aware that this is just an estimate. Please also be aware that every investment has risk involved. This is strictly my opinion and I just want to share to those people who might be interested in discussion or reading my post. I am curious if it will close below $37. We shall see!! Thank you so much for your support! Love you guys!
Posted on: Wed, 10 Sep 2014 14:15:18 +0000
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