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SmarTrend Watching for Potential Pullback in Shares of Transocean Ltd After 2.02% Gain

By Shiri Gupta

Transocean Ltd (NYSE:RIG) traded in a range yesterday that spanned from a low of $13.30 to a high of $13.70. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $13.49 on volume of 6.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Transocean Ltd share prices have been bracketed by a low of $7.20 and a high of $16.66 and are now at $13.64, 90% above that low price. The 200-day and 50-day moving averages have moved 0.53% lower and 1.56% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Transocean Ltd on April 10th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.37. Since that recommendation, shares of Transocean Ltd have risen 29.1%. We continue to monitor RIG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders transocean ltd

Ticker(s): RIG