Transocean Stock Forecast
Red day on Friday for Transocean stock after losing 0.387%
(Updated on Jun 21, 2024)
The Transocean stock price fell by -0.387% on the last day (Friday, 21st Jun 2024) from $5.17 to $5.15. During the last trading day the stock fluctuated 2.57% from a day low at $5.05 to a day high of $5.18. The price has fallen in 6 of the last 10 days and is down by -5.5% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 12 million shares were bought and sold for approximately $62.51 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.07% during the next 3 months and, with a 90% probability hold a price between $4.08 and $5.21 at the end of this 3-month period.
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RIG Signals & Forecast
There are few to no technical positive signals at the moment. The Transocean stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $5.29 and $5.69. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -16.94%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Transocean stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.130 between high and low, or 2.57%. For the last week, the stock has had daily average volatility of 3.49%.
Transocean is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RIG) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Transocean Ltd to open at $5.13, and during the day (based on 14 day Average True Range), to move between $4.92 and $5.38, which gives a possible trading interval of +/-$0.231 (+/-4.49%) up or down from last closing price. If Transocean Ltd takes out the full calculated possible swing range there will be an estimated 8.98% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $5.22, some $0.0700 (1.36%) from the current price of $5.15, our system finds the risk reward not very attractive.
Is Transocean Ltd stock A Buy?
Transocean holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.132 Sell Candidate Unchanged
Predicted Opening Price for Transocean Ltd of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $5.13 ( 0.453%) | $5.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RIG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.26 | 2.07% |
| R2 | 5.21 | 1.11% |
| R1 | 5.18 | 0.511% |
| Price | 5.15 | |
| S1 | 5.08 | -1.42% |
| S2 | 5.05 | -2.01% |
| S3 | 5.00 | -2.98% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.81 | 12.82% |
| R2 | 5.40 | 4.85% |
| R1 | 5.22 | 1.36% |
| Price | 5.15 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
RIG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 14, 2015 | Aug 21, 2015 | Sep 23, 2015 | $0.150 | 1.10% |
| 2 | May 18, 2015 | May 27, 2015 | Jun 17, 2015 | $0.150 | 0.86% |
| 3 | Feb 06, 2015 | Feb 18, 2015 | Mar 18, 2015 | $0.750 | 4.92% |
| 4 | Nov 04, 2014 | Nov 12, 2014 | Dec 17, 2014 | $0.750 | 4.12% |
| 5 | Aug 12, 2014 | Aug 20, 2014 | Sep 17, 2014 | $0.750 | 2.16% |
FAQ
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