Tidewater Inc. provides offshore service vessels and marine support
services through the operation of a fleet of marine service vessels. It
provides services in support of offshore exploration, field development,
and production, including towing of and anchor handling for mobile
offshore drilling units; transporting supplies and personnel necessary
to sustain drilling, work over, and production activities; offshore
construction, ROV operations and various specialized services, such as
pipe and cable laying. The company operates and charters deepwater
vessels, including platform supply vessels, and anchor handling towing
supply vessels that are used in transporting supplies and equipment from
shore bases to deepwater and intermediate water depth offshore drilling
rigs, platforms, and other installations; towing-supply and supply
vessels for use in intermediate and shallow waters; and crewboats and
utility vessels for use in transporting personnel and supplies from
shore bases to offshore drilling rigs, platforms, and other
installations.
To review Tidewater’s stock, please take a look at the 1-year chart of TDW (Tidewater, Inc.) below with my added notations:
TDW has been trading sideways for the last 2 months. Over that period
of time the stock has formed a clear resistance level at $50 (red). In
addition, the stock has also created a strong level of support at $46
(green). At some point the stock will have to break one of the two
levels the rectangle pattern has created.
The Tale of the Tape: TDW has a clear level of
support at $46 and resistance ($50). The possible long positions on the
stock would be either on a pullback to $46, or on a breakout above $50.
The ideal short opportunities would be on either a break below $46 or on
a rally back up to $50.
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