RIG climbs to highest close since January 22nd


Transocean Ltd (RIG) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team

Highlights

RIG closes higher for the 2nd day in a row
RIG ends the day on a bullish note closing near the high of the day
RIG pushes through previous session high
RIG rises to highest close since January 22nd

Overview

Moving higher for the 2nd day in a row, RIG finished Monday at 11.82 gaining $0.23 (1.98%). Today's closing price of 11.82 marks the highest close since January 22nd. Closing above Friday's high at 11.74, the market confirms its breakout through the prior session's high having traded $0.14 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (RIG as at Apr 16, 2018):

Daily technical analysis candlestick chart for Transocean Ltd (RIG) as at Apr 16, 2018

Monday's trading range was $0.52 (4.53%), that's slightly above last trading month's daily average range of $0.45. Weekly volatility is also higher, being way above the markets average with the monthly volatility being way above average.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

With prices trading close to this year's high at 12.40, upside momentum could speed up should Transocean be able to break out to new highs for the year.


Market Conditions for RIG as at Apr 16, 2018

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