The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Transocean Ltd shares valued at $86,900 were sold by Mackenzie Roderick James on Dec 12 ’24. At $3.95 per share, Mackenzie Roderick James sold 22,000 shares. The insider’s holdings dropped to 251,596 shares worth approximately $0.89 million following the completion of this transaction.
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Also, RODERICK J MACKENZIE purchased 88,000 shares, netting a total of over 359,920 in proceeds.
Before that, RODERICK J MACKENZIE had added 37,261 shares to its account. In a trade valued at $163,203, the Officer bought Transocean Ltd shares for $4.38 each.
As published in a research note from Barclays on December 18, 2024, Transocean Ltd [RIG] has been rated up from an Equal weight to an Overweight and the price target has been revised to $4.50. Analysts at JP Morgan upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in early December. As of October 15, 2024, The Benchmark Company has decreased its “Buy” rating to a “Hold” for RIG. Earlier on September 12, 2024, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for RIG stock which previously was a “a Buy”.
Analyzing RIG Stock Performance
During the last five days, there has been a drop of approximately -9.90%. Over the course of the year, Transocean Ltd shares have dropped approximately -44.09%. Shares of the company reached a 52-week high of $6.88 on 04/08/24 and a 52-week low of $3.53 on 12/19/24. A 50-day SMA is recorded $4.19, while a 200-day SMA reached $5.07. Nevertheless, trading volume fell to 29.55 million shares from 24.35 million shares the previous day.
Support And Resistance Levels for Transocean Ltd (RIG)
According to the 24-hour chart, there is a support level at 3.48, which, if violated, would cause prices to drop to 3.40. In the upper region, resistance lies at 3.68. The next price resistance is at 3.80. RSI (Relative Strength Index) is 28.76 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.36, which suggests the price will decrease in the coming days. Percent R is at 97.83%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
