Many oil servicing companies can be forming potentially significant long-term bottoming patterns.
While some might need more of a bounce and then another low, there is potential to count larger corrections as complete even sooner, and at the very least, we see some good R:R setups for more "bounces" off recent lows.
Before we get into the more detailed discussion of Elliott Wave counts, we will check in with our resident FA and Quant experts.
From Lyn's desk:
"Analysts are expecting a rebound in adjusted earnings for these two companies [SLB & HAL] over the