APRIL SALE: Save over 60% on our Pro Plans!

RIG climbs to highest close since January 22nd


Technical Analysis Report for RIG - Apr 16, 2018 [< 1 min read]
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
TQ Sentiment
Technical Forecast:
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 chart for RIG
Volatility

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.

Trend

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

Order Flow

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Transocean traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

DAX 12,500.4778.17 0.63%
FTSE 7,421.4342.13 0.57%
USDJPY 109.430.61 0.56%
NKY 22,319.61104.29 0.47%
DXY 90.9550.415 0.46%
GBPUSD 1.3932-0.0045 -0.32%
TBOND 141.750-0.594 -0.42%
GOLD 1,324.4-7.8 -0.59%
EURUSD 1.2161-0.0072 -0.59%
HSI 30,007.68-628.56 -2.05%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.