Atwood Oceanics, Inc. (NYSE: ATW)

Atwood Oceanics, Inc., an offshore drilling contractor, engages in the drilling and completion of exploratory and developmental oil and gas wells worldwide. As of November 10, 2014, it owned a fleet of 13 mobile offshore drilling units, as well as 3 ultra-deepwater drillships under construction. The company was founded in 1968 and is headquartered in Houston, Texas.
Take a look at the 1-year chart of Atwood (NYSE: ATW) below with the added notations:

ATW lost almost half of its value after breaking its $45 support (green) in September. However, since bottoming near $26 the stock has rallied back a bit. The $30 level (blue) had been resistance, but once ATW broke through it the stock pushed back up to the $35 level (red). That resistance has now sent the stock back down to the old $30 breakout point.

The Tale of the Tape: ATW has important levels to watch at $30 and $35. A trader could enter a long position on a pullback down to $30, or on a break above $35, with a stop placed under the level. However, a short trade could be made instead if the stock fails to hold $30.
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