Transocean $RIG Trading Report

May 12, 2020 - 7:30 PM EDT

Transocean $RIG Trading Report

May 12, 2020, BY Thomas H. Kee Jr - Editor, Stock Traders Daily |

The Transocean (NYSE: RIG) update and the technical summary table below can help you manage risk and optimize returns. Here we provide day, swing, and longer-term trading plans for RIG, and we cover 1000 other stocks too. This is a snapshot, it was real-time when the report was published, but prices change and so do support and resistance levels. Update this report, and get unlimited real time reports here Unlimited Real Time Reports.

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Technical Summary

Term →	Near	Mid	Long
Bias	Strong	Strong	Weak
P1	0	0	1.16
P2	1.69	1.64	2.56
P3	0		3.99

Long Term Trading Plans for RIG

May 12, 2020, 7:30 pm ET

The Technical Summary and Trading Plans for RIG help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this RIG Report.

RIG - (Long) Support Plan

The technical summary data tells us to buy RIG near 1.16 with an upside target of 2.56. This data also tells us to set a stop loss @ 0.9 to protect against excessive loss in case the stock begins to move against the trade. 1.16 is the first level of support below 1.69 , and by rule, any test of support is a buy signal. In this case, support 1.16 would be being tested, so a buy signal would exist.

RIG - (Short) Resistance Plan

The technical summary data is suggesting a short of RIG as it gets near 2.56 with a downside target of 1.16. We should have a stop loss in place at 2.82 though. 2.56 is the first level of resistance above 1.69, and by rule, any test of resistance is a short signal. In this case, if resistance 2.56 is being tested, so a short signal would exist.