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Bullish Moving Average Cross by Transocean (RIG)

By Amy Schwartz

Today, shares of Transocean (NYSE:RIG) have crossed bullishly above their 10-day moving average of $9.41 on a volume of 3.5 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Transocean share prices have moved between a 52-week high of $21.90 and a 52-week low of $7.67 and are now trading 27% above that low price at $9.75 per share. The 200-day and 50-day moving averages have moved 0.53% lower and 1.56% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Transocean. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Transocean in search of a potential trend change.

Keywords: moving crosses Transocean

Ticker(s): RIG