Thursday, July 9, 2009

Oil Services Transocean (RIG)



With Oil ($WTIC) hitting just under the $60 level, trend line & the 38.2% Fibonacci retracement, I see a leveling off and perhaps a rally in August. The oil services companies (OIH) has put in a 50% retracement and the top holding in the OIH is Transocean (RIG). The stock is in the BUY ZONE and warrants accumulation with a stop set @ $60.

*click chart to expand image

No comments: