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$, imho, when these two lines colide, in like september or october. (It's current trend). Expect some head wind in short term from slower global recovery (variant). It would be hard for XLE to return to where it came from; so that's extremely bullish . No crap head lines can't change fact that there was underinvestment into oil exploration; thus...
ascending triangle; needs to beat 4.20; 4.50; 5.20 (2019 levels).
Believe, from here, it could either retest bottom of channel of 3.20-> bounce to rally. Or it consolidates before breaking above (a longterm downtrend); Or big volume, fire power shows up; bullish once breaking above 4.10-4.20 levels. TP at 5-5.20$ 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!!!
RSI low and MA's golden cross. As well as UKOIL above $50. And also FDA approved the Pfizer vaccine.
Rig is in a clear bull trend right now. Will buy on dip if it happens.
The latest earnings beat expectations, Transocean could end up as the sole survivor within it's market segment & we might see a mighty short squeeze in a very near future.
It seems to me that the up trend is set. Check out the idea on Monday.
See a decent Cup, but a great handle heading in a bullish direction... lets keep it going!
I think it's obvious where the opportunity lies on this one. Still be careful. Gap up potiental.
RIG reset to lows not seen since 1994. This looks like a great long term hodl
The stock is certainly in a longer downtrend. A Turnaround is to early to tell - Even though, it can be time to start looking at a longer term Long position in the stock. Looking at the timecycles "Low to Low" from 2004 - present, It seems to come in a cycle Low every 76 to 81 weekly bars or every 500 to 550 days. We might now be at week 77 from an earlier Low....