Whilst the main market saw moderate gains, there was notable strength in the Oil/Gas drillers. Transocean (RIG), settled higher by a rather significant 1.9% @ $44.45. We have a clear break above a multi-week bull flag, next upside target zone is $48/50.
RIG remains another of my favourite companies.
For the regular readers of my main page, I've been noting RIG again lately, after what was a pretty clear large bull flag.
Today's jump higher breaks.. and confirms the flag.. and we're now on the way to the upper 40s.
Superb company, and a few years out.. I'd expect RIG to be in the $125/150 zone.