Wedge breakout + revisit trendline
Entry 3.8
Stop 3.4
Target 5.1
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
Transocean Ltd. is shaping up to become a massive turnaround story with great upside potential.
Youre betting on sustained higher oil prices here.
The stock is still selling on cents on the dollar from its last high in 2008.
Transocean LTD., formerly Transocean Inc., is an international provider of offshore contract drilling services for oil and gas wells. The company offers deepwater and harsh environment drilling, oil and gas drilling management, and drilling engineering and project management services, as well as explores, develops, and produces oil and gas resources. The company...
Transocean is a Swiss drilling company.
At the moment, the price has broken through the descending channel up, fixed above it, the second wave has formed. The level of wave 1 is broken up at an increased volume. We can hope that this is the beginning of the third wave of the target for which 4.43 (17.4%) and 5.04 (33.8%).
pointless to try predicting what markets gonna do; it will be sum of dollar falling/Crude oil rallying, 10Y behaviour (value vs growth performance), etc. Also IWM performance (fueling small caps), etc. Anything is possible. Longterm probably people underestimate the energy crisis/shortages, look out what changes after labor day?
