RIG - coiling up... for a snap higher

Whilst the main market continues to see minor weak chop, Transocean (RIG) managed a small gain to start the week, +0.17% @ $48.76  Recent price structure is a very clear bull flag, and there looks to be easy upside to 52/53 within the very near term.


RIG, daily

RIG, weekly

RIG, monthly

Summary

*I remain long RIG, from $50.07, and a secondary block in the $47.30s.
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RIG remains bizarrely valued...

see key stats @ yahoo finance.

Frankly, I'd be surprised if RIG doesn't see the mid/upper 60s by late spring - assuming main market proceeds into the sp'1950/2050 zone.
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Long term outlook..into late 2015 is $125/150...which I realise it an extremely bold target, but in terms of valuation is not particularly high.