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SmarTrend Watching for Potential Pullback in Shares of Transocean Ltd After 2.04% Gain

By James Quinn

Transocean Ltd (NYSE:RIG) traded in a range yesterday that spanned from a low of $8.62 to a high of $8.89. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $8.57 on volume of 7.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Transocean Ltd share prices have moved between a 52-week high of $16.66 and a 52-week low of $7.20 and are now trading 22% above that low price at $8.77 per share. 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 is tracking the current trend status for Transocean Ltd and will alert subscribers who have RIG in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders transocean ltd

Ticker(s): RIG