The Hourly View for RIG
At the moment, RIG (Get Ratings)’s price is down $-0.01 (-0.27%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
RIG ranks 37th in terms of today’s price percentage change out of Petroleum and Natural Gas stocks.
RIG’s Technical Outlook on the Daily Chart
Currently, RIG’s price is up $0.1 (2.92%) from the day prior. RIG has seen its price go up 5 out of the past 5 days, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, with price now being above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Transocean Ltd’s price action over the past 90 days can be seen via the chart below.
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The post Transocean Ltd (RIG): Price Now Near $3.69; Daily Chart Shows An Uptrend on 100 Day Basis appeared first on ETF Daily News.
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