Transocean Ltd, about to surface after Deepwater Horizon?

#Stoxx50 #NK225 As one of the guilty party in the Deepwater Horizon debacle, Transocean share price has taken a little hit since 2010. The corrosion of their share price has actually been worse, the rot starting in 2008 and proving pretty relentless in the years since. However, something interesting appears to be happening, share price movements worth paying attention to.

The Blue line on the chart below dates all the way back 14 years and suddenly, the stock market decided the share price deserved being gapped up above this long term historical downtrend. Equally puzzling, the presence of the Red uptrend since 2020’s pandemic lows. As the chart inset shows, the share price was also gapped up, regaining this uptrend.

Usually, in the grand scheme of things, we get quite exciting when a price is gapped up above its Red uptrend, this generally providing a reliable signal for happy times ahead. We’re always slightly less optimistic, when a price is gapped above a Blue downtrend, this sort of movement often being at the mercy of overall market conditions before things come to fruition. In this particular case, we’re at a loss as we cannot recall an instance when both things happened at the same time.

Maybe it’s an indicator the market is finally forgiving Transocean for trying to burn down the world and instead, is hoping the company intends set fire to the stock market!

The immediate situation certainly allows for some real optimism, suggesting ongoing traffic above $4 should trigger price recovery to an initial $5 next. If exceeded, our longer term secondary calculation works out at a visually sane $7.3. The picture from the chart certainly suggests a risk of hesitation, should $7.3 make an appearance.

 

For everything to go as badly as the companies attempts to cap an oil well in the Mexican Gulf, the share price now needs drip below $2.4 as this would transport it into a zone where “bottom” calculates as a visit to $1.12.

We really suspect Transocean Ltd should prove worth watching in the weeks and months ahead.

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:05:26PM FTSE 7394
9:08:19PM BRENT 99.93 Success
9:10:46PM GOLD 1761.44 Success
9:13:27PM STOX50 3679 3661 3656 3631 3685 3702 3712 3729 3676 Success
9:16:42PM GERMANY 13421 ‘cess
9:19:01PM US500 4091
9:42:52PM DOW 32410 Success
9:44:58PM NASDAQ 12891
9:46:54PM JAPAN 27739 27716 27678 27598 27824 27884 27920 27978 27760

 

1/08/2022 FTSE Closed at 7413 points. Change of -0.13%. Total value traded through LSE was: £ 3,802,113,332 a change of -37.81%
29/07/2022 FTSE Closed at 7423 points. Change of 1.06%. Total value traded through LSE was: £ 6,113,428,375 a change of 2.61%
28/07/2022 FTSE Closed at 7345 points. Change of -0.04%. Total value traded through LSE was: £ 5,958,117,609 a change of -17.71%
27/07/2022 FTSE Closed at 7348 points. Change of 0.57%. Total value traded through LSE was: £ 7,240,157,901 a change of 9.37%
26/07/2022 FTSE Closed at 7306 points. Change of 0%. Total value traded through LSE was: £ 6,619,636,706 a change of 9.19%
25/07/2022 FTSE Closed at 7306 points. Change of 0.41%. Total value traded through LSE was: £ 6,062,435,734 a change of 37.23%

SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

Click Epic to jump to share: LSE:ASC Asos** **LSE:AVCT Avacta** **LSE:BBY BALFOUR BEATTY** **LSE:BP. BP PLC** **LSE:CBX Cellular Goods** **LSE:IGAS Igas Energy** **LSE:IPF International Personal Finance** **LSE:PMG Parkmead** **LSE:TRN The Trainline** **

********

Updated charts published on : Asos, Avacta, BALFOUR BEATTY, BP PLC, Cellular Goods, Igas Energy, International Personal Finance, Parkmead, The Trainline,

LSE:ASC Asos Close Mid-Price: 1002 Percentage Change: -3.47% Day High: 1043 Day Low: 972

Target met. If Asos experiences continued weakness below 972, it will inv ……..

Subscribe for more

</p

View Previous Asos & Big Picture ***

LSE:AVCT Avacta. Close Mid-Price: 120 Percentage Change: + 7.91% Day High: 122 Day Low: 112

All Avacta needs are mid-price trades ABOVE 122 to improve acceleration t ……..

Subscribe for more

</p

View Previous Avacta & Big Picture ***

LSE:BBY BALFOUR BEATTY Close Mid-Price: 281.2 Percentage Change: -0.50% Day High: 287.2 Day Low: 280.8

Target met. All BALFOUR BEATTY needs are mid-price trades ABOVE 287.2 to ……..

Subscribe for more

</p

View Previous BALFOUR BEATTY & Big Picture ***

LSE:BP. BP PLC. Close Mid-Price: 403.35 Percentage Change: + 2.80% Day High: 411.1 Day Low: 401.65

Continued trades against BP. with a mid-price ABOVE 411.1 should improve ……..

Subscribe for more

</p

View Previous BP PLC & Big Picture ***

LSE:CBX Cellular Goods. Close Mid-Price: 2.8 Percentage Change: + 80.65% Day High: 2.9 Day Low: 1.55

Target met. Further movement against Cellular Goods ABOVE 2.9 should impr ……..

Subscribe for more

</p

View Previous Cellular Goods & Big Picture ***

LSE:IGAS Igas Energy. Close Mid-Price: 44.1 Percentage Change: + 6.27% Day High: 45.4 Day Low: 41

Target met. In the event of Igas Energy enjoying further trades beyond 45 ……..

Subscribe for more

</p

View Previous Igas Energy & Big Picture ***

LSE:IPF International Personal Finance. Close Mid-Price: 106 Percentage Change: + 6.00% Day High: 105 Day Low: 99.9

Target met. Continued trades against IPF with a mid-price ABOVE 105 shoul ……..

Subscribe for more

</p

View Previous International Personal Finance & Big Picture ***

LSE:PMG Parkmead. Close Mid-Price: 73.4 Percentage Change: + 12.75% Day High: 76.4 Day Low: 66.8

Target met. In the event of Parkmead enjoying further trades beyond 76.4, ……..

Subscribe for more

</p

View Previous Parkmead & Big Picture ***

LSE:TRN The Trainline. Close Mid-Price: 408 Percentage Change: + 1.39% Day High: 410.2 Day Low: 398.4

Continued trades against TRN with a mid-price ABOVE 410.2 should improve ……..

Subscribe for more

</p

View Previous The Trainline & Big Picture ***

*** End of “Updated Today” comments on shares.

This post has already been read 65 times!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.