Hornbeck Offshore Services, Inc. (NYSE: HOS)

Hornbeck Offshore Services, Inc., through its subsidiaries, operates offshore supply vessels (OSVs) and multi-purpose support vessels (MPSVs) in the U.S. Gulf of Mexico, Latin America, and internationally. It provides marine transportation, subsea installation, and accommodation support services to exploration and production, oilfield service, offshore construction, and U.S. military customers. The company owns and operates a fleet of U.S.-flagged OSVs and MPSVs that support the deep-well, deepwater, and ultra-deepwater exploration, development, production, construction, installation, inspection, repair, maintenance, well-stimulation, and other enhanced oil recovery activities of the offshore oil and gas industry. It also operates a shore-base support facility located in Port Fourchon, Louisiana, as well as provides vessel management services, such as crewing, daily operational management, and maintenance activities for other vessels owners.
Take a look at the 1-year chart of Hornbeck (NYSE: HOS) below with my added notations:

HOS has formed a key support level at $16 (green) over the past two months. In addition, the stock is declining against a short-term, down trending resistance level (red). These two levels combined had HOS stuck within a common chart pattern known as a descending triangle. Eventually, the stock will have to break one of those two levels.

The Tale of the Tape: HOS is sitting at its triangle support. A short trade could be made on a break of support or on a rally up to resistance. A long trade could be made at support or on a break through the triangle resistance.