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Watch for Transocean Ltd to Potentially Rebound After Falling 1.22% Yesterday

By Amy Schwartz

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.

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.

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. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.9%.

Keywords: rebounders transocean ltd

Ticker(s): RIG