RIG (Transocean Ltd) has now hit both the final short-term swing target (60 minute chart) as well as T1 (19.40) on the daily time frame hit for a 25% gain. Although the intermediate & possibly longer-term outlook for RIG remains bullish, I have decided to book full profits and will consider RIG a Completed Trade [...]
The RIG (Transocean Ltd) active long trade gapped above the second short-term (60 minute chart) target today and is now approaching the final short-term target/first swing target (T1) of 19.40, trading as high as 18.97 so far today. With the trade up about 20% in less than 3 weeks, consider raising stops to protect profits. [...]
RIG 60 minute Jan 21st With the $USD trading down today & still expecting a nice bounce in oil, RIG (Transocean Ltd) looks poised to break out above the aforementioned 60-min bullish falling wedge pattern anytime now, providing the next objective entry or add-on to the existing long trade. RIG was one of [...]
RIG (Transocean Ltd) was one of several bounce/potential longer-term trade candidates mentioned yesterday in the "Peak Oil vs. Oil Glut" post. The next objective entry will come on a break above the wedge AND the 16.10 level (horizontal resistance) with the first two resistance levels shown on the 60 minute chart below as the near-term [...]
The longer that I trade & invest, the more it seems like I'm watching the same movie played over & over every few years. It's the never ending cycle of booms & busts and if I were to categorize the genre of movies that I'm watching, I'd have to lean more towards labeling them as [...]
RIG gapped above T2 last week. consider raising stops to just below T2.
top of 1st target zone on RIG hit. consider taking partial or full profits and/or raise stops to protect profits.