RIG climbs to highest close since January 22nd


Transocean (RIG) Technical Analysis Report for 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
Report Sentiment: 50% Bullish
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.

Market Conditions for Transocean
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 50 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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