38.50 support is still holding for Transocean. Crude oil high price related to recent geopolitical events will push the stock price higher. Inverse H&S pattern you can verify yourself on the daily chart is already out of the neckline and gives a good entry point at the current level (44.30). Exit point to be evaluated at a later stage.
Comments
timwest
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I put DO (Diamond Offshore) on my long list too this week - and totally agree with RIG. Ready to rally. It closed above the lowest weekly range today = buy signal.
LEONES
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Yes I agree with DO long. In general all the energy sector looks good. It's a pity we don't have european stocks becuase there are really good opportunities at the moment in european oil companies like Total, Eni, Shell etc