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The London-based Ensco Rowan (ESV) has gone through a brutal correction for the past few months owing to bearish oil prices still weakening as I speak. This negative trend could continue even further until we can say for sure that support has been reached.
If we look at the 6-months chart and compare with Transocean (RIG), Diamond Offshore (DO), Noble Corp. (NE) and Seadrill (SDRL) which are the predominant companies in this struggling sector, we see the same alarming