Transocean Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Transocean stock price up 0.96% on Wednesday
(Updated on May 01, 2024)
The Transocean stock price gained 0.96% on the last trading day (Wednesday, 1st May 2024), rising from $5.22 to $5.27. During the last trading day the stock fluctuated 5.78% from a day low at $5.10 to a day high of $5.40. The price has been going up and down for this period, and there has been a -7.22% loss for the last 2 weeks. Volume fell on the last day by -24 million shares and in total, 26 million shares were bought and sold for approximately $138.49 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.24 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 22.81% during the next 3 months and, with a 90% probability hold a price between $6.44 and $8.74 at the end of this 3-month period.
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RIG Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.96%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $5.66 and $6.02. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Transocean stock
Transocean finds support from accumulated volume at $5.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.295 between high and low, or 5.78%. For the last week, the stock has had daily average volatility of 5.82%.
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 Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Transocean Ltd to open at $5.26, and during the day (based on 14 day Average True Range), to move between $4.99 and $5.55, which gives a possible trading interval of +/-$0.280 (+/-5.31%) up or down from last closing price. If Transocean Ltd takes out the full calculated possible swing range there will be an estimated 10.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.22 (0.95%) than the resistance at $5.55 (5.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Transocean Ltd stock A Buy?
The Transocean stock holds several negative signals and despite the positive trend, we believe Transocean will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.220 Sell Candidate Unchanged
Predicted Opening Price for Transocean Ltd of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $5.26 ( 0.285%) | $5.27 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 5.55 | 5.31 % | |
| R2 | 5.44 | 3.17 % | ||
| R1 | 5.37 | 1.85 % | ||
| Current price: | 5.27 | |||
| Support | S1 | 5.14 | -2.42 % | |
| S2 | 5.07 | -3.74 % | ||
| S3 | 4.96 | -5.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.38 | 21.06 % | |
| R2 | 6.22 | 18.03 % | ||
| R1 | 5.55 | 5.31 % | ||
| Current price | 5.27 | |||
| Support | S1 | 5.22 | -0.95% | |
| S2 | 5.14 | -2.47% | ||
| S3 | 4.67 | -11.39% |
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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