RIG 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.
Our 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
My prediction for RIG is long. The 4h MACD already shows us the turning point. Because of the OPEC+ production cut and SPR level we will see big gains altough the main market (DJI below 30 MA) is bearish.
Goals 0.56, 0.49. Invalidation at 0.89.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that...
$RIG has been on walls st radar since CEO Thigpen purchased even more shares in the summer of 2021 to become a part owner, He predicted the Oil price boom. The stock price is below the $5 mark which is why Wall st funds haven't piled in, The price has frustrated retail traders as they have been waiting patiently. The key here is to stay invested until the true...
Downward channel breakout in uptrend. Inverse head and shoulders pattern at volume profile POC. Consolidating around 20 SMA. Positive fundamental and macro trends. Insider buying.
Judging by the news there is a momentum behind embargo talks and my charts confirm that. Therefore I consider RIG to be a buy opportunity with xxx% potential with price travelling beyond 2008 high eventually.
All within 1.618 we are looking for a continuation pattern that is comparable to what was seen previously in this 1.618 zone
1.618 has been an obvious support level for price
Lets see how it evolves
Just a cheap little midcap play. Wouldn't really do options on this. Small daily breakout. Oil's been pumping (haha) nonstop so maybe it's got a little juice left in it. It's trading at a decently fair value right now so I don't expect any major runs on this. But could be something to park some cash in for a while if waiting for broader markets to move
need to get up over the wedge retest then go higher other wise it fails and we find support again this one is whippy. does not track well in price movement, rsi seems to work .
Going to still play this to the upside for now, even though you could probably play a straddle here while it decides a direction. I think the oil play is coming for a winter move
