Downtrend Call Working As Transocean Stock Falls 13.6% (RIG)
SmarTrend identified a Downtrend for Transocean (NYSE:RIG) on May 23rd, 2013 at $51.37. In approximately 5 months, Transocean has returned 13.59% as of today's recent price of $44.39.
Transocean share prices have moved between a 52-week high of $59.50 and a 52-week low of $43.65 and are now trading 2% above that low price at $44.39 per share. The 200-day and 50-day moving averages have moved 0.04% lower and 0.36% lower over the past week, respectively.
Transocean Ltd. is an offshore drilling contractor. The Company owns or operates mobile offshore drilling units, inland drilling barges, and other assets utilized in the support of offshore drilling activities worldwide. Transocean specializes in technically demanding segments of the offshore drilling business, including deepwater and harsh environment drilling services.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Transocean.
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Keywords: spotlights Transocean