RIG Weekly: taking a look. Turning around.

Also see Daily chart to follow.
RIG is a offshore drilling company which as you see above has been in a long term downtrend esp with adequate oil supplies available already and oil prices down.
It has made a recent bounce right up to the center line of the down channel. I favor there is more up correction to come soon perhaps up to the top of the channel.

Some info on the fundamentals:
seekingalpha.com/art...cean-battens-hatches

seekingalpha.com/art...et-overvalued-market