2waytrading

Bullish Triangles (1 within 1) Tough to read

NYSE:RIG   TRANSOCEAN LTD
96 0 2
$RIG has habit of forming many triangles, in most cases, targets are not achieved based on 23 trades only 45% resulted positive and this may not be the case this time because its rare to see a triangle within triangle and rarely it fails but may take more time to fruit any positive result. Another important short time bullish signal failed as well. Look the bullish pennant that failed. On July 7th, we recommended short position after price broke decisively the ascending support trend from June's low to the HLs             target now achieved and we recommend to wait at and around $41 area for a possible bounce upward. If you decide to take a position make your stop loss at recent swing low or May low.

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