TransoceanI’ve been in and out of this over the years. I believe the next move is towards the top of the bearish Fibonacci channel, and then higher. The stock price has been consolidating nicely, without any major pullbacks, and apparent support in the fibs. UpLongby Shammus015
RIG Update - All signs pointing bullishLove this play at this price. Going to be patient on entries and wait for lower time frame tapering to start occurring at higher time frame buying continuation algorithms. Happy Trading :) Long03:19by TraderDaddyOG5
RIG monthly back-tests, high probability using game theory.RIG monthly back-tests, high probability using game theory (and macro/b-cycle). Price action following.. Self explanatory. by citsvarUpdated 0
RIG - Good opportunity post-earnings drop with very tight stop We are seeing clear sell-side tapering with the orange algo and purple showing it's control. We are now retesting the breakout of strong selling magenta and coinciding with green buying continuation. This could be a very good opportunity knowing that if we don't hold green, we're out. However with a retest of magenta and a proven buying continuation lining up, I will definitely enter a position if the opportunity presents itself. Hope to be back more consistently in a week or two when I'm back in the states. Happy Trading :) - TraderDaddyOGLong02:57by TraderDaddyOG3
Technical Analysis Report on Transocean Ltd Market Overview: As of the last trading session, Transocean Ltd's stock (NYSE: RIG) experienced a significant decline, closing at $5.22, which marked a 10.31% drop. This analysis aims to provide an in-depth examination of RIG's current technical posture, utilizing a variety of technical indicators and chart patterns observed over recent trading periods. Technical Indicators and Patterns: Ichimoku Cloud: Analysis of the Ichimoku Cloud shows the price breaking below the cloud, signaling a bearish trend. This breakdown suggests potential continuation to the downside unless there is a significant reversal back above the cloud. Moving Averages: Across multiple time frames, the stock has broken below key simple and exponential moving averages, including the 10, 20, 30, and 50-day MAs, all of which are trending downwards and signaling sell. The 200-day MA is positioned at 6.67, serving as a critical resistance point. RSI and Stochastic Oscillators: The Relative Strength Index (RSI) is currently at 33.19, indicating that the stock is approaching oversold conditions but not yet at an extreme level that typically suggests a reversal. The Stochastic RSI also underscores a bearish momentum with no immediate signs of recovery. Volume and Volatility: The recent trading session showed a spike in volume, coinciding with the price drop, which could indicate strong selling pressure. Volatility as depicted by Bollinger Bands shows the price breaching the lower band, further validating the bearish momentum. Fibonacci Retracements and Pivots: Utilizing the Fibonacci retracement tool from the recent high of $6.88 to the low of $5.22, significant resistance can be expected around the 0.618 retracement level at $6.16. Current pivot point analysis suggests a resistance near $5.85 and support around $5.25. Price Prediction and Trading Strategy: Short-Term Targets: Considering the bearish indicators, the immediate downside target is around the next support level at $5.00. If the selling pressure persists, further decline towards $4.81 (S3 pivot point) is plausible. Resistance Levels to Watch: Any short-term recovery should face resistance near $5.60, with more significant barriers at $5.85 (pivot point) and $6.16 (Fibonacci 0.618 level). Entry and Exit Points: For bearish trades, consider shorting near resistance levels of $5.60 or $5.85, with stop-loss orders slightly above $6.00. If aiming for long positions, wait for bullish reversal signals, possibly around the $5.00 mark or below, with a tight stop-loss to manage risks. Conclusion: Transocean Ltd currently exhibits several bearish signals across its technical framework, making it a potential candidate for short positions or a watch for buy opportunities at lower support levels. Traders should closely monitor volume and any potential news that could impact market sentiment and price action. The technical analysis indicates a cautious approach, with key attention to resistance and support dynamics that dictate the next movements for RIG shares. Shortby AxiomEx1
RIG - Potential long opportunity approachingThis could be a very healthy controlled selling on the way toward a retest of our purple selling channel and potentially a breakout thereafter. This is what to look out for - and again this is on the weekly chart so definitely look at lower time frames to get a better/clearer picture Happy Trading :) - TraderDaddyOGLong02:05by TraderDaddyOGUpdated 4
Hindsight; Buying RIG using macd, fib.Looking back, high probability positions buying RIG using macd and fib (50%). Following OSX sector, XLE. XLE/SPY.by citsvar0
Trading Game. How they manipulate with priceImagine You buy a stock or business, that You think was undervalued based on the "circumstances" and that you think has great value. You bought this at 1$, during 2020 November alongside with the oil rally. Nobody knows the price. Everyone has a price target... Imagine my price target was 7$ - based on the previous highs. Chances are everyone will look at it the same way and adjust the price based on some context. Under price momentum, there was buyers and sellers and stock rise to 3$..4$..5$ etc... If everyone use 7$ for guidance - most likely everyone be selling their shares at 5$. If I wanted you to sell higher I would shout 10$. If I wanted you to sell lower I would shout 0.50$. People would adjust their targets and nobody knows exactly how much something is worth. That's what the institutions do with their public price targets. It works like a poker game. The closer price got to 5$ -> more risk you took by buying or holding it. If I had a ton of bitcoins, I would shout $200k price. and sell it when it's strong. etc. Then cause panic - to get cheaper prices. #101Longby citsvarUpdated 13134
Rig consolidates on Fib as Oil correctsOil is likely to be a huge player this year, the year after a tech run, value and certain commodities are likely to run. Rig has been on a major upswing since 2021. The stock meanders between two fib levels and has heavily consolidated here (.382). A colleague of mine pointed out Jan 2025 7$ calls and the open interest is huge. This more volatile play than XOM CVX OXY could provide massive leverage for a bet on oil prices increasing. Another run to the more important golden fib would make the calls very lucrative.Longby Apollo_CB332
RIG Transocean Options Ahead of EarningsAnalyzing the options chain and the chart patterns of RIG Transocean prior to the earnings report this week, I would consider purchasing the 6usd strike price Calls with an expiration date of 2024-6-21, for a premium of approximately $1.59. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it. Longby TopgOptionsUpdated 228
$RIG short position Good morning, The market has been in an interesting place recently. For now, it seems like pressure is on it for lower. Until proven otherwise. A potential good short opportunity for a stock right now is NYSE:RIG , aiming to reach $7.50 by end of October or sooner. Note: Options position Shortby EBGtraderUpdated 222
The Rig "blue horseshoe loves the next 100 baggers to the moon"it's ike buying a pair of jeans .. and not using it probably the next big thing when oil hits $100 or ARAMCO debuts soon it's all a cycle for the benefit of the few greedy players -- notice the VOLUME underneath relative to previous years.. those whales splashing discretely while price at sub $2 is at rest -- thieves like to accumulate when no one is minding "we follow the money that follows the money folks...." -- all the best and best of years ahead... by senyorUpdated 181822
RIG in a good uptrend move NYSE:RIG is in a good uptrend. All short term moving averages are above long term (200sma) moving average. It's also hitting Fibonacci 50% lvl. My target is the supply zone between $14.15-$16.66. Stop loss closing below $7.65 or for more flexibility close below $6.77by jsingh0094
RIG (weekly)Rig weekly chart is at your disposal. You can see that this index has risen sharply from the bottom of the daily channel and the bullish candles are still strong, and this indicates the interest of buyers. And also it has broken its very important resistance level and also made a pullback and is ready to continue the upward movement. We will see a good growth in this index. We expect the next resistance level to be the minimum growth , which we have drawn in white.Shortby currencelandUpdated 2218
Textbook Golden Retriever Breakout, Next Stop: MoonRIG with a solid golden retriever breakout. Once in a lifetime pattern that could yield unparalleled returns. Longby TomDaSpankEngineUpdated 3316
RIG: Ascending Triangle (129%)RIG update on the continuing ascending triangles. This is the third one showing since February 2021. Withs the current procurement situation worldwide, I think this stock price in bound to increase dramatically. If confirmed: Price target = 11.62$ Stay humble, have fun, make money!Longby LeLafUpdated 116
$RIG 2.5 R trade ideaRIG breaking recent high ensures the bullish sign. 2.5 R trade to the next valid ob is what i am thinking.Longby praveen.casimir111
RIG LONG TF=H4 , TP = 6.98On the 4-hour chart, the trend started on May 3 (linear regression channel). There is a high probability of profit. A possible take profit level is 6.98 But do not forget about the SL = 5.41 Good luck! Regards, WeBelieveInTradingLongby WeBelieveInTradingUpdated 3
RIG: At a crossroads, time to decideRIG recently broke out of its bull flag. However, since then oil prices have fallen sharply, creating selling pressure for RIG. RIG successfully defended the breakout yesterday when oil prices were down 4%, but RIG has another test ahead of it today as oil has fallen another 3%. In my opinion, the downside risk from here is minimal, but the upside is tremendous, creating a highly favorable r/r setup. If RIG is unable to defend the breakout today, I expect the stock will retest the lower trendline around $5.30, which I expect will provide strong support. However, if RIG is able to maintain the breakout even after oil falls 7% in 2 days, that would be a tremendous show of strength. I think it could go either way right now, 50/50, but I think the bullish interpretation is the highest probability at this time. It is possible that this stock could reach $20/share over the next 6-12 months.by TomDaSpankEngineUpdated 9
$RIG Recessionary theory winning out with b looking to complete in a 3/3/5 movement by raulmarcusbruno0
RIG technical Breakdown on Lower guidanceRIG may be signaling some weakness in the energy sector. This heavily indebted stock has massive movement when oil is strong but the same can be said when oil is wweak. Poor guidance knocking & breaking the trend...On watch for continuation. by Trading-Capital0
NYSE: RIG - BREAK & RETEST - MOMENTUMOur classic setup has been identified in RIG stock and purely seeing if my playbook work in stocks as well as forex. Risk at your own will if taking these plays, the strategy has not been life tested in stocks until now Longby USA_Capital_Funds2