Serving clients in Africa for decades has never been the easiest task for Pacific Drilling (NYSE: PACD) which was created to meet the needs of the new generation of offshore drilling demands. In the time of hard-earned cash from the oil and gas industry, the company is striving so much as it sacrifices technology and talents to generate revenues. However, PACD could rise above $10 like Halliburton (HAL) while many energy stocks tend to jump at least 20% a day.
Within a month PACD has attempted to soar thrice; on September 18’s $0.336, September 29’s $0.2689, and October 2’s $0.2798. Will the stock surge further? Looking at September 17’s position one could conclude that another jump may happen in the upcoming Monday.
If that scenario doesn’t happen PACD will likely pop within the next week. Hence, short-term traders could take a huge advantage of its rise perhaps in a margin of 30%. Penny stocks usually deliver quick profits, adding PACD to the watchlist could be a ticket to your first or next million.