What’s Seadrill Partners LLC (SDLP) Downside After Touching All-Time Low?

The stock of Seadrill Partners LLC (NYSE:SDLP) reached all time low today, May, 8 and still has $0.58 target or 9.00 % below today’s $0.64 share price. This indicates more downside for the $58.96 million company. This technical setup was reported by Barchart.com. If the $0.58 PT is reached, the company will be worth $5.31M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only.

The stock decreased 2.73% or $0.018 during the last trading session, reaching $0.6421. About 164,559 shares traded. Seadrill Partners LLC (NYSE:SDLP) has declined 68.71% since May 8, 2018 and is downtrending. It has underperformed by 73.08% the S&P500.

More notable recent Seadrill Partners LLC (NYSE:SDLP) news were published by: Seekingalpha.com which released: “Ship Finance International: Back To A Buy – Seeking Alpha” on April 23, 2019, also Seekingalpha.com with their article: “Seadrill Partners whacks dividend by 90% to $0.01 – Seeking Alpha” published on January 22, 2019, Seekingalpha.com published: “Seadrill Partners: A Look At The Second-Quarter Results – Seeking Alpha” on August 27, 2018. More interesting news about Seadrill Partners LLC (NYSE:SDLP) were released by: Seekingalpha.com and their article: “Seadrill Partners – Prepare For Debt Restructuring – Seeking Alpha” published on January 08, 2019 as well as Seekingalpha.com‘s news article titled: “Seadrill Partners: Highly Interesting At $3 – Seeking Alpha” with publication date: March 14, 2018.

Seadrill Partners LLC owns, operates, and acquires offshore drilling units. The company has market cap of $58.96 million. The firm primarily serves various gas and oil companies. It has a 1.05 P/E ratio. As of April 20, 2017, its fleet consisted of four semi-submersible drilling rigs, four drillships, and three tender rigs.

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