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Seadrill

momo rotating back the the oil sectorAll in with stops at $41... oil is going much higher soon. strong bullish movement here with constant rejection at $41 It looks unlikely that we might see an September/October market crash if oil starts its next big leg up here, which is historically volatile. Any confirmation of uptrend may easily bring SDRL beyond $5~7. This is a pretty nice proxy to play on the uptrend, given the close proximity to SDRL's previous low for a safer & leveraged long position.
FX:USOILLong
by LastBattle
1
Transoceans Timewindow.The stock is certainly in a longer downtrend. A Turnaround is to early to tell - Even though, it can be time to start looking at a longer term Long position in the stock. Looking at the timecycles "Low to Low" from 2004 - present, It seems to come in a cycle Low every 76 to 81 weekly bars or every 500 to 550 days. We might now be at week 77 from an earlier Low. The chart shows the different Low points. The RSI indicator is presently seldom this extremely low at 7.5. Low RSI readings in December of 2008, June of 2010, December 2011 sparked impressive advances. Time will show if this instance comes in to play again with a low around x-mas time of 2014 or maybe aleady in place 2 days ago..
NYSE:RIG
by xau.se