Midday Update: Transocean Ltd (Switzerland) (RIG) Charges Ahead 4.3% on August 18

Transocean Ltd (Switzerland) (RIG) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on August 18. At the lunch break, shares of RIG have gained 4.3% to $10.54 after closing the day prior at $10.11. In the first two and a half hours of trading, the stock has gone as high as $10.65 and as low as $10.17. Today's rise has come with about 6.27 million shares changing hands, compared to an average 30-day volume of 15.43 million for Transocean Ltd (Switzerland). The price is currently below the 30-day volume weighted average price of $10.44 for RIG. The share appreciation gives the company a market capitalization of $3.69 billion based upon 365.39 million shares outstanding. It also means that RIG has a price-to-book ratio of 0.25:1. In the past 52 weeks, shares of RIG have traded as low as $7.665 and as high as $17.19. Technical traders will take note that at $10.54, shares of RIG are trading below their 200-day MA at $11.09 and below their 50-day MA at $11.28. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish. Who is RIG? Transocean Ltd is an international provider of offshore contract drilling services for oil and gas wells. The Company has two operating segments; contract drilling services and drilling management services. The company’s 9100 employees are led by CEO Jeremy D. Thigpen from the corporate headquarters at 10 Chemin de Blandonnet in Vernier, . For more information on RIG and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today. All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information. About FinancialPress.com FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here.