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Transocean Bullish Moving Average Crossover Alert (RIG)

By Amy Schwartz

Today, shares of Transocean (NYSE:RIG) have crossed bullishly above their 10-day moving average of $11.96 on a volume of 5.5 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Transocean have traded between a low of $7.67 and a high of $21.90 and are now at $12.44, which is 62% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.6%.

SmarTrend recommended that subscribers consider buying shares of Transocean on June 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.20. Since that recommendation, shares of Transocean have risen 5.2%. We continue to monitor RIG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Transocean

Ticker(s): RIG