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Transocean Set to Possibly Rebound After Yesterday's Selloff of 1.92%

By David Diaz

Transocean (NYSE:RIG) traded in a range yesterday that spanned from a low of $11.81 to a high of $12.28. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $12.44 on volume of 10.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Transocean on February 8th, 2017 by issuing a Downtrend alert when the shares were trading at $13.13. Since that call, shares of Transocean have fallen 5.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Transocean share prices have been bracketed by a low of $7.67 and a high of $21.90 and are now at $12.13, 58% 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.

Keywords: rebounders Transocean

Ticker(s): RIG