Market Overview

Transocean Higher For Sixth Day In A Row

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Transocean LTD (NYSE: RIG) shares are trading higher by $0.20 (1.4 percent) at $15.62 in Monday's session. This extends its winning to streak to six days. In addition, the issue has traded higher in eight of its last nine sessions, with the one outlier being a $0.02 decline on December 5.

This session is shaping up a bit different from the pattern over the few weeks. In many of those sessions, it opened at or near its lows for the day and churned higher to finish near the highs for the day.

After a higher open today, it rallied another $0.33 to $16.33 but then reversed course. That marks the highest level for the issue since November 4, 2015, when it peaked at $17.11. So far, the ensuing decline has found support ahead of the upper-end of Friday's range ($15.50), only reaching $15.54.

At this time, the issue is drifting back towards the low for the session.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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