RIG has been bearish since the 2008 high, so with the last bar gapping down on higher volume a near-term sell opportunity looks like a good play.
Price had been going mostly sideways, since the end of 2012, offering a strong support at around $38. When this was broken and retested (turning support into resistance) in August/September 2014 a new bear trend began to develop. This would've been very early to short this stock so a break of the more recent pivot low of $27.91 offered a firmer opportunity, for longer-term trend traders.
Trading the last bars gap down (on higher volume) offers a near-term sell opportunity - with the next level of support at around $18 -$19. However, I am not looking to enter any trades today due to the US holiday yesterday.
Price had been going mostly sideways, since the end of 2012, offering a strong support at around $38. When this was broken and retested (turning support into resistance) in August/September 2014 a new bear trend began to develop. This would've been very early to short this stock so a break of the more recent pivot low of $27.91 offered a firmer opportunity, for longer-term trend traders.
Trading the last bars gap down (on higher volume) offers a near-term sell opportunity - with the next level of support at around $18 -$19. However, I am not looking to enter any trades today due to the US holiday yesterday.
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Web: dt.live
Instagram: instagram.com/dynamictrader
Twitter: twitter.com/dynamictrader
Instagram: instagram.com/dynamictrader
Twitter: twitter.com/dynamictrader
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.