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SmarTrend Watching for Potential Rebound in Shares of Transocean Ltd After 1.22% Loss

By Shiri Gupta

Transocean Ltd (NYSE:RIG) traded in a range yesterday that spanned from a low of $13.29 to a high of $13.58. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $13.36 on volume of 5.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Transocean Ltd have traded between a low of $7.20 and a high of $14.34 and are now at $13.35, which is 85% above that low price. The 200-day and 50-day moving averages have moved 0.76% higher and 0.88% higher over the past week, respectively.

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