Valaris Ltd

VAL's post-parabolic collapse confirms a Stage 4 decline with medium-term bearish asymmetry. Short-term price has bounced into the 9/20 EMA zone but remains under the 50 SMA within a broader downtrend. We defer new longs and focus on trimming into rallies around the 9/20 EMA band upon signs of rejection.

• ↑Q2 fleet-wide revenue efficiency at 96% drove $201M adjusted EBITDA.
• ↑Contract backlog reached $4.7B, the highest in a decade.
• ↓Q4 revenues projected at $495–515M on fewer operating days.