Could Seadrill Partners LLC (SDLP) Change Direction After Reaching All-Time Low?

The stock of Seadrill Partners LLC (NYSE:SDLP) reached all time low today, Aug, 15 and still has $1.65 target or 5.00 % below today’s $1.73 share price. This indicates more downside for the $15.92 million company. This technical setup was reported by Barchart.com. If the $1.65 PT is reached, the company will be worth $796,100 less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only.

The stock decreased 7.27% or $0.136 during the last trading session, reaching $1.734. About 32,750 shares traded. Seadrill Partners LLC (NYSE:SDLP) has declined 92.85% since August 15, 2018 and is downtrending. It has underperformed by 92.85% the S&P500.

More notable recent Seadrill Partners LLC (NYSE:SDLP) news were published by: Seekingalpha.com which released: “Seadrill Partners Bags 2-Wells Contract With Statoil In Canada For The West Aquarius – Seeking Alpha” on February 13, 2017, also Seekingalpha.com with their article: “Seadrill Moves Into Angola, Good News For Seadrill Partners? – Seeking Alpha” published on February 07, 2019, Fool.com published: “Where Will Seadrill Partners LLC Be in 5 Years? – The Motley Fool” on September 05, 2017. More interesting news about Seadrill Partners LLC (NYSE:SDLP) were released by: Seekingalpha.com and their article: “Seadrill Partner Bags 120-Day Contract For The Semi-Submersible West Aquarius – Seeking Alpha” published on April 07, 2017 as well as Seekingalpha.com‘s news article titled: “Seadrill Limited Or Seadrill Partners, Which One Is A Better Investment? – Seeking Alpha” with publication date: February 06, 2015.

Seadrill Partners LLC owns, operates, and acquires offshore drilling units. The company has market cap of $15.92 million. The firm primarily serves various gas and oil companies. It has a 0.47 P/E ratio. As of April 20, 2017, its fleet consisted of four semi-submersible drilling rigs, four drillships, and three tender rigs.

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