Transocean (RIG) is an international provider of offshore contract drilling services for oil and gas wells. This stock is trading up 4.2% at $48.01 in recent trading.
Today's Volume: 4.90 million
Average Volume: 3.47 millionVolume % Change: 154% From a technical perspective, RIG is gapping up sharply higher here right through both its 50-day at $46.79 and its 200-day at $47.77 with above-average volume. This move is quickly pushing RIG within range of triggering a near-term breakout trade. That trade will hit once RIG manages to clear some near-term overhead resistance levels at $49 to $50.38 with high volume. Traders should now look for long-biased trades in RIG as long as it's trending above its 200-day at $47.77, and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.47 million shares. If that breakout triggers soon, then RIG will set up to re-test or possibly take out its next major overhead resistance levels at $52.25 to $56.36 in the near future. Vivus Vivus (VVUS) is a biopharmaceutical company engaged in the development and commercialization of therapeutic products for large underserved markets. This stock is trading up 2.3% at $14.66 in recent trading. Today's Volume: 3.72 million Average Volume: 3.00 million Volume % Change: 140% From a technical perspective, VVUS is moving notably higher here with above-average volume. This small bounce is coming after VVUS recently plunged during the last few weeks from $23.59 to a $13.50. That sharp move lower has now pushed shares of VVUS into oversold territory, since the stock sports a relative strength index (RSI) of 25.85. Oversold can always get more oversold, but it's also an area to watch for explosive bounces. Shares of VVUS are now trending within range of triggering a near-term breakout trade. That trade will hit once VVUS takes out some near-term overhead resistance at $15.40. Traders should now look for long-biased trades in VVUS as long as it's trending above today's low of $13.50, and then once it sustains a move or close above $15.40 with volume that hits near or above 3 million shares. If that breakout triggers soon, then VVUS could bounce sharply back towards its 50-day moving average of $20.44 or possibly even higher.
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