Home
News
- 1 RIG stock price is currently trading at $8.38 with a drop of 2.95% in the last 24 hours with a current market cap of $6.558 Billion.
- 2 The bulls showed their dominance and continued to surge.
RIG stock price showed a strong chart structure in the recent trading sessions. The price was trading above the key moving averages and reflected buyers’ power. The sellers were wary of the competition and were waiting for a decline to show their influence. But the rise is forcing them to close their positions and to stay on the sidelines. The buyers kept making long positions and steadily moved toward $8.38.
At the time of writing, Transocean Ltd. stock was trading at $8.38 with a gain of 2.95% for the day, showing neutrality in the last trading session. The trading volume for the day was 15.514 Million. The market cap of Transocean stock was $6.558 Billion. The stock displayed the bulls’ strength and maintained the gains leading the way.
On the daily charts, RIG stock stayed on the top near the supply zone, holding the gains convincingly. Buyers have an edge dominating the past few trading sessions. Moreover, the price persisted in forming higher highs, and sellers were trapped during the rebound. As per the stock technicals, analysts maintained a buy rating and a target price of $10.
Technical Analysis of RIG Stock Price in 1-D Timeframe
Currently, RIG stock is trading above the 50 and 200-day SMAs (simple moving averages), which are supporting the price momentum.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the RIG stock price is expected to move upward giving bullish views over the daily time frame chart. The current value of RSI is 54.11 points. The 14 SMA is above the median line at 52.23 points which indicates that the RIG stock is bullish.
The MACD line at 0.0335 and the signal line at 0.0476 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the Transocean Ltd. stock price.
Summary
RIG stock oscillators are currently indicating that the price is overbought. The investors are not very optimistic regarding the stock. The MACD, RSI, and EMA are emphasizing positive signs and imply that the uptrend may continue in the Transocean Ltd. stock price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment. However, Investors and traders should wait for proper setup for the next move and avoid FOMO.
Technical Levels
- Support Levels: $8.00 and $7.52.
- Resistance levels: $8.88 and $10.00.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
