RIG trade ideas
Mean reversion momo tradeCould get a small move to the upside here with a small hold timeframe in mind.
If momo is to follow through here wouldnt be a bad place to put on position with the risk defined.
Above the second purple level is constructive for a retracement higher.
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Energy sector has been a horrible sector to put your money in for some time though.
$RIG Transocean has to catch a break sometime. From a charting perspective RIG is really at a critical level, historically it has had a lot of false dawns and ended up falling out from these bearish rising channel, technical indicators are also all turning negative coming into earnings . The analysts covering the name have a average price target of $11.97 and a overweight rating, 20 analysts have a buy rating with only 3 sell ratings. A stock looking cheap does not mean it will not get cheaper, despite large contracts wins for RIG investors seem to selling any rips. We have set alerts for a break above $10 for a possible long.
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters. The company serves integrated oil companies or their affiliates, as well as government-controlled oil companies and independent oil companies. Transocean Ltd. was founded in 1953 and is based in Steinhausen, Switzerland.
Transocean Ltd. Announces Contract Award for Ocean Rig CorcovadoRIG: Transocean Ltd.
2019-03-11 06:41:43
Transocean Ltd. Announces Contract Award for Ocean Rig Corcovado and Ocean Rig Mykonos - GlobeNewswire
Transocean Ltd. Announces 5-Year $830 Million USD Drilling ContrRIG: Transocean Ltd.
2018-12-28 06:36:27
Transocean Ltd. Announces 5-Year $830 Million USD Drilling Contract for Newbuild Ultra-Deepwater Drillship
RIG: looks good to me. Going long Went long today.
Oil looking stable to up to me. I think the correction likely over for this one. Target above recent high. Suggested stop on chart. Process your way.
Bullish Trade of the Week Selling a put in RIGTaking a play on the drop in Crude Oil prices and potential geopolitical uncertainties with a put sale in RIG which appears to be in a long term consolidation pattern Looking to sell a 52d 10 put for .64 to .68 this week
RIG: Potential 5th wave for 26% upsideI am an oil bull fundamentally and technically speaking. In this forum, I shall stick to technicals and I see a wave 4 completion with a double bottom at the 61.8% retracement level off high volumes. Assuming a 1:1 extension off the 3rd wave, I would expect an upside price objective of $16, +c.26%.
$RIG Overbought - Shooting Star Doji Confirmed$RIG saw resistance just above $14, appears to be over-extended and due for pullback. Should be good for at least 5-10% downside move in the short term.
Target 12.60 then possibly 11.60
Bullish Oil Futures = Energy Companies #18 (RIG)Timing: Pay attention with this explanation: The first week of February the Dow Jones dropped 1,175 points and the major indexes too.
When a situation like this happen is a good opportunity to buy stocks at discount but not intermediately Not the next day or the next week,
it is necessary to wait a few months for things to calm down.
If you look the SP 500 for example or the Russell 2000 too you can appreciate that the week than the market dropped did a support
and one month later the market dropped again and did a support in the same level at the end of March and a pattern began to take shape
(a triangle with the same level of support) and now (May 01 to 15) this pattern is already broken. and the major indexes are bullish in this moment.
And what does this mean= synchronization or timing
For a swing trader the synchronization with the major indexes is very important because.
You can not afford to keep open positions in negative territory for months, waiting for things to improve.
And the other aspect to watch is that Crude Oil Index is Bullish too.
The idea is a triple bottom look the arrows
(Support=Blue Arrows) (Resistance=Red Arrows)
RIG: F/U on offshore drilling. Looking good.This is a follow to my posts from Jan 3 and Feb 8 (please see links below). Now have a big up day and a positive reversal in the daily RSI. Very encouraging. WTI another offshore stock also up a lot today. Take a look at these and process your way.
Here is one view of the fundamentals.
seekingalpha.com
nice head & shoulders with 3/4 pullback Head and shoulders with 3/4 pullback to the 61.8 retracement. This is conjunction with the underlying trend.
RIG-Looking Good for an EntryRIG-is looking good for a long play...short-term it is crossing over on the MACD and with US drilling news from the US govt....Offshore RIGS are on the move.
I look at this level for 1 and 2 year leaps at this price with targets of 15, 30 and 45 over the next two years.
Complete your own assessments and conduct your risk profiles. My chart and plan are my own and any other party that trades with this information does so at there own risk....
