Quick Win by the Algorithm

On December 1, 2016, the I Know First algorithm had predicted a bullish forecast for Tidewater Inc. (TDW). TDW had a signal of 9.45 and a predictability of 0.19. In accordance with the algorithm, the company reported long-position capital gains of 50.22% experiencing a quick win by the algorithm.

Tidewater is the leading provider of larger Offshore Service Vessels to the global energy industry. With its large, new vessel fleet, a global footprint, leading safety performance, and over 50 years of experience providing marine support services, they are serving customers who are operating in more remote, deeper and increasingly hostile environments in order to meet the world’s energy demands. Tidewater has a global footprint, with over 90% of its fleet working internationally in more than 60 countries. Around the world, they stand ready to transport crews and supplies, tow and anchor mobile rigs, assist in offshore construction projects and perform a variety of specialized marine support services.

TDW has been upgraded by Zacks to a “hold” rating. Tidewater’s 50-day moving average stands at $2.17 and its 200-day moving average is $3.47. Tidewater caters to the energy industry, which in essence, means that they are heavily tied to the oil industry. Their fleet is meant to provide services to the oil companies drilling offshore. Naturally, when one industry is positively affected by economic growth, other industries closely related to the benefitting industry will also benefit from the change. Recently OPEC, which produces a third of the world’s oil, has reached a deal to cut production among its members. This supply decrease is expected to lead to an increase in the price of oil and thus boost the oil industry including Tidewater Inc.

This bullish forecast on TDW was sent to current I Know First subscribers on December 1, 2016. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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