Are The Stars Aligning For Oceaneering?

Adam Feik - Contributor - Energies

I happened to notice Oceaneering International (NYSE:OII) is flashing 3 green triangles on MarketClub.

This is a stock that last saw its shares trade at $86 per share on November 4, 2013 (almost exactly 2 years ago), hit a low of $37 on August 25 (almost exactly 2 months ago, on the same day the broad market touched its recent bottom), and is now changing hands at nearly $47.

That’s a 57% freefall over 22 months, followed by a 27% gain over 2 months. See for yourself:

Daily Chart of Oceaneering International Inc. (NYSE:OII)

Why should you care? Well, I don’t know that you should, seeing as how Oceaneering is in the business of providing engineering services primarily to deepwater drilling companies, which doesn’t exactly seem like a hot corner of the market these days. But… Continue reading "Are The Stars Aligning For Oceaneering?"