Thread by @malteseinvest

Analysis: #NYSE: #RIG

Case 27 #Transocean Ltd

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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RIG 1/7

This #stock has little to no prospects and keeps recording new lows as the years go buy. It remains under heavy selling pressure on any attempts higher.

RIG 2/7

Chart 1
Monthly Chart: The #SMA 55 has underpinned this stock since 2008 and a monthly close above has never been seen. Other firm resistances: Pivot, TL pivots and #trendline.

RIG 3/7

Chart 2
Weekly Chart: Support of the #Bollinger Band and the top is at 6.74. A new trendline pivot (Teal) with a slope 3.25-2.94 will act as a temporary support.

RIG 4/7

Chart 3
Daily Chart: Two unfilled gaps are between 11.87/70 and 7.24/11. There's an important TL #pivot (Red) which has already seen a false break (Sept.16) .....

RIG 5/7

..... a strong close above will then target the first gap at 7.24/11. Short term support off the trendline (Teal) approximately $4

RIG 6/7

Chart 4
Daily Chart: The #strategy - printed in the image.

RIG 7/7