I think putting it in within such a 'channel', make sense. (It trades along with this "trend" (line, on top, since 2020), which is has never succeeded to break, yet). Expect it to follow this pattern in future (copy/paste the trend line). Follow the long averages. (The bottom of channel is "bottom" of 2020 crash; and end of the initial "reflation trade" rally)....
ER by the period as well. this is the longterm "trend" (line) to follow. Would imagine getting above it to be super bullish. Once XLE/SPY gets "above", where it needs to be, more volume would hop in opportunistically.
I expect a retest of $4.00, with a potential test of 3.83 support zone. This appears to be a critical zone. Stochastic RSI need to reset, which would correlate with the retest areas. Buy target = $3.83 - $4.00 PT = $7.XX
Transocean Ltd. (NYSE: RIG) The trend has change lately, Transocean also has attracted the attention of day traders on WallStreetBets.. The stock also has reacted positively to Transocean's agreement with Jurong Shipyard to accept deferred payment on the delayed delivery of two ultra-deepwater drillships. Their own insider director bought 15% more shares.....
Had to update my Fib setting today on RIG after this last move. With oil and gas still taking center stage, reopening stocks seem to be pivoting around energy. Still, from a longer-term perspective, there is still plenty of ground to make up from its previous drop. "At least in the near term, oil and natural gas will be needed to help fuel the equipment &...
RIG will test 7-8$, imho, when these two lines colide, in like september or october. (It's current trend). Expect some head wind in short term from slower global recovery (variant). It would be hard for XLE to return to where it came from; so that's extremely bullish . No crap head lines can't change fact that there was underinvestment into oil exploration; thus...
big brain time, fintwit... How is WISH going to deliver orders without oil and boats or whatever?! Spoiler alert: they're not. Enter: RIG (honorable mention: SHIP) At heart, I guess RIG is an oil play. As usual I'm going to spare you the deep RIG backstory and assume that you found this idea because you've already done some research of your own. There's...
I put this RIG chart together earlier this month and it continues to hold true. No major consolidation just a channel trade with higher lows getting put in. With global shipping becoming a bigger point of interest right now RIG could be one to watch (assuming they don't do something stupid like raise money at a drastic discount). "the oil demand this year has...
ascending triangle; needs to beat 4.20; 4.50; 5.20 (2019 levels).
Believe, from here, it could either retest bottom of channel of 3.20-> bounce to rally. Or it consolidates before breaking above (a longterm downtrend); Or big volume, fire power shows up; bullish once breaking above 4.10-4.20 levels. TP at 5-5.20$ range, re-tests 4.20-4.50, before moving higher. Catalyst will be WTI and XLE/XOP markets. Fundamentally I believe...
as long as WTI heads in right direction, MAs here are slopping up. Price Target 4.70-5$ by mid june. Multiple Resistances.
RIG is down a bit over 20% since we reached our first target of $4.59 (42%)...could be time for the next leg...buy in is $3.51...target is $7(ish)...neighborhood of 100%...ITS YOUR MONEY...DYOR!!!