Stay Updated!

Sign-up for free email updates!

Posted by ZorTrades


Frank Zorrilla is the founder and chief investment officer of Zor Capital LLC.He began his Wall Street career 10 days after his 20th birthday when he became a Series 7 licensed stock broker.

I Need A Hero

by ZorTrades on July 17, 2013

in Stocks, Technical Analysis

$HERO is trying to emerge from a 7 month box/sideways action/base.  About 90% of the stock movement within those 7 months fell between $6.50 and $7.50 and you will also notice that the the last 6 closes were above the $7.50 level clearly showing signs that it wants to move out of the box.  Trigger price is right here right now with a tight stop at $7.40, based on the 7 month box you can argue that the stock should have a measured move to $8.50.

HERO

Hercules Offshore, Inc., together with its subsidiaries, provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry worldwide. The company operates through five segments: Domestic Offshore, International Offshore, Inland, Domestic Liftboats, and International Liftboats. Its services comprise oil and gas exploration and development drilling, well services, platform inspection, maintenance, and decommissioning services in various shallow-water provinces. As of February 21, 2013, the company owned and operated a fleet of 37 jackup rigs, 13 barge rigs, and 58 liftboat vessels, as well as operated 5 liftboat vessels owned by third party. It serves national oil and gas companies, integrated energy companies, and independent oil and natural gas operators. The company was formerly known as Hercules Offshore, LLC and changed its name to Hercules Offshore, Inc. in 2005. Hercules Offshore, Inc. was founded in 2004 and is headquartered in Houston, Texas.


Previous post:

Next post: