Transocean Ltd. (NYSE:RIG) fell by -1.04% in Thursday’s trading session from $10.61 to $10.50 The stock price went upward in 6 of the last 10 days, but has retreated -0.85% over the same course of time. Volume has increased in Thursday’s trading session by 2.48 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 15.37 M shares exchanged hands for about $161.44 million.
Inside RIG’s Recent Trend
Transocean Ltd. (RIG) enjoys staying at the middle end of a sharp increasing trend in a short period of time and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 25.14% over the course of a quarter and, with 90% chance the price will be floating in the range of $10.81 and $13.85 in this timeframe.
Transocean Ltd. Technical Signals
RIG has witnessed its long term and short term MA triggering a buy signal. Many traders watch for short-term averages to cross above long-term averages to signal the beginning of a uptrend. Upon corrections, the price will meet support from the averages between $10.47 and $9.41. 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 Wednesday October 11, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume up and price depreciating is getting our attention as this movement is seen as bearish sign.
Transocean Ltd. (NYSE:RIG) Support And Resistance Levels
Transocean Ltd. (RIG) recorded volume accumulation so there will probably be a surplus of buyers at $10.04. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $10.52, $10.59 and $10.76.
Accumulated volume is going to prevent the price from rising further at $10.52 and this action will lead the price to take a temporary pause or stay muted for a few days.
Transocean Ltd. (RIG) Risk Assessment
A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.41 between high and low, or 3.99%. The average volatility for the past week stood at 3.50%.