RIG - back to 1995

Whilst the main market saw a great deal of minor chop, there was very significant weakness in Transocean (RIG), which broke below the Jan'2016 low of $7.66, seeing an intra low of $7.55 - the lowest level since 1995, and settling -5.7% at $7.91. Near/mid term outlook is bearish, as WTIC and Nat' gas remain mid term weak.


RIG, monthly, 27yr

RIG, daily

Summary

Suffice to add, near, mid, and long term trends are unquestionably bearish.

The cautious will leave this stock, and the entire sector, well alone unless a break above declining trend, which for RIG is currently around $17.00... and that is a very long way up.
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As an aside... for those with an interest in the bigger picture, the following is highly recommended...





yours.. no car.