Hornbeck Offshore Services, Inc. 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:
After peaking last summer, HOS declined for over 6 months, but since
December the stock has been trending sideways. During this possible
sideways bottoming process, HOS has created a resistance at $25 (green),
which is a level that had also been support back in October and
December. A break above that $25 level should mean higher prices for the
stock.
The Tale of the Tape: HOS has a key level of
resistance at $25. A long trade could be entered on a break through that
level. However, if you are bearish on the stock, a short trade could be
made on any rallies up to $25.
Please share this article
.png)
