Transocean (RIG) showing buoyant technical trend with higher tops and higher bottoms

Transocean Ltd. (NYSE: RIG) said on Wednesday that its Q3 net income fell by a third as the oil service firm saw lower activity in its fleet of rigs and drill ships.

Transocean Ltd (RIG) daily charts have been forming a higher top and higher bottom pattern for a couple of months now, indicating buoyant trend in the Transocean (RIG) stock.

Excluding 46 cents a share in one-time charges, Transocean Ltd (RIG) earned $2.65 a share.