Tidewater (TDW) engages in the provision of offshore marine support and transportation services to the energy industry. Let's check out the charts and indicators to see if there is more to come on the upside.
In the daily bar chart of TDW, below, I can see a rally from June to early March followed by a sideways trend the past three months. Prices have traded around the 50-day moving average line but stay nicely above the rising 200-day moving average line.
The On-Balance-Volume (OBV) line shows a rise to March followed by a steady sideways trend. The Moving Average Convergence Divergence (MACD) oscillator has been hugging the zero line the past six weeks but could soon make a move to the upside.
In the weekly Japanese candlestick chart of TDW, below, I can see that the shares have made a 10-fold advance over the past three years. Outstanding. Prices are in an uptrend above the rising 40-week moving average line and I see a number of recent lower shadows to suggest that traders are rejecting the lows.
Trading volume has increased significantly since early 2022. The weekly OBV line shows a strong move higher in November. The MACD oscillator is well above the zero line but correcting the past two months.
In this daily Point and Figure chart of TDW, below, I can see that the software is projecting a potential upside price target in the $60 area.
In this second Point and Figure chart of TDW, below, I used weekly close-only price data to get a $60 price target but the chart suggests that higher prices are possible with no nearby chart resistance.
Bottom-line strategy: Traders could probe the long side of TDW in the $45-$40 area risking to $37. The $60 area is my first price target.
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