On Tuesday, the Transocean Ltd (NYSE:RIG) stock was in the middle of an upward trend and that is possibly the reason why it may be a good time now for investors to take a closer look at it.
Trading Data
On Tuesday, RIG stock increased by 2.84% to $4.34 with more than 9.74 million shares, compared to its average volume of 24.81 million shares. The stock moved within a range of $4.3000 – 4.5000 after opening trade at $4.36.
Transocean Ltd. Announces First Quarter 2022 Earnings Release Date
As it happens, the company was in fact in the news on Tuesday after it announced that on May 2, 2022 it was going to announce its financial results for the first fiscal quarter of 2022. In this regard, it is also necessary to keep in mind that the results are going to be announced only after the closure of the New York Stock Exchange for the day.
However, that is not all. Transocean also noted that it would also host a conference call on the next day and it would commence 3 pm CEST. It was a pair of important announcements from the company and may have resulted in it coming into focus among investors.
It is now going to be interesting to see if the stock can manage to hold on its uptrend momentum and deliver some gains. Investors could do well to add the Transocean stock to their watch lists at this point.
Technical Data
RIG stock is trading above the 50-Day and 20-Day Moving averages of $4.10 and $3.65 respectively. However, the stock is trading below the 20-Day moving average of $4.43.
