Why Ocean Rig UDW (NASDAQ:ORIG) Is Sending Neutral Signals?

Ocean Rig UDW LLC (NASDAQ:ORIG) fell by -18.22% in the last day from $0.22 to $0.18 The price has been moving in both directions for this period, and there has been a 17.93% gain over 10-day period. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -5.22 million shares and in total 2.33 M shares exchanged hands for about $412 460.

Inside ORIG’s Recent Trend

Ocean Rig UDW LLC (ORIG) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -31.48% over the course of a quarter and, with 90% chance the price will be floating in the range of $0.07 and $0.14 in this timeframe.

Ocean Rig UDW LLC Technical Signals

ORIG has witnessed its long term and short term MA triggering a buy signal but chances are low for long-term averages to cross above short-term averages which the market considers a major buy signal. Upon corrections, the price will meet support from the averages between $0.15 and $0.17. A break down through these support points will trigger sell signals. Some other technical concerns emerged as well, putting in risk the future growth of the stock in the next couple of days. Its pivot point high generated sell signal on Monday July 17, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Ocean Rig UDW LLC (NASDAQ:ORIG) Support And Resistance Levels

Ocean Rig UDW LLC (ORIG) recorded volume accumulation so there will probably be a surplus of buyers at $0.18, $0.17, and $0.16. In case of gains, the next resistance from accumulated volume will be at $0.20, $0.22 and $0.20.

Ocean Rig UDW LLC (ORIG) Risk Assessment

This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be high risk. In the most recent session, the stock price hovered around $0.04 between high and low, or 23.53%. For the last week the stock has had a daily average volatility of 32.91%.


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