Bullish Moving Average Cross by Transocean (RIG)
Transocean (NYSE:RIG) crossed over its 10-day moving average of $11.21 on a volume of 3.2 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 47% above that low price at $11.31 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has slid 0.5%.
SmarTrend is tracking the current trend status for Transocean and will alert subscribers who have RIG in their portfolio or watchlist when shares have changed trend direction.
Keywords: moving crosses Transocean