Provided is a detailed Elliott Wave analysis for Transocean Ltd. (
RIG) stock, showing a long-term projection from the 2020 low to 2027.
Price Targets and Fibonacci Retracements:
Key levels suggest the price could potentially keep dropping to the HWB (50% FIB / 2.40) based on the current trend. Fibonacci extension levels suggest further price appreciation towards the golden pocket (19.76 to 23.58) if the bullish cycle continues strongly thereafter.
Long-Term Outlook:
The upward-sloping green trend channel suggests that the stock may continue to rise, with projections for 2025 indicating potential gains up to $20 and beyond. The overall trend appears bullish, with a potential breakout beyond current price levels over the next few years.
RIG) stock, showing a long-term projection from the 2020 low to 2027.Price Targets and Fibonacci Retracements:
Key levels suggest the price could potentially keep dropping to the HWB (50% FIB / 2.40) based on the current trend. Fibonacci extension levels suggest further price appreciation towards the golden pocket (19.76 to 23.58) if the bullish cycle continues strongly thereafter.
Long-Term Outlook:
The upward-sloping green trend channel suggests that the stock may continue to rise, with projections for 2025 indicating potential gains up to $20 and beyond. The overall trend appears bullish, with a potential breakout beyond current price levels over the next few years.
Note
In technical analysis, several methods focus on higher timeframes to provide a broader, more reliable context for trading or investment decisions. Elliott Wave Principle generally considers historical higher timeframes as mandatory.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
In technical analysis, several methods focus on higher timeframes to provide a broader, more reliable context for trading or investment decisions. Elliott Wave Principle generally considers historical higher timeframes as mandatory.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.