Transocean Ltd. (RIG)

[benfrankledger]

Doesn’t seem like short- to medium-term trajectory of the stock price is only to the upside. Brent oil is currently trying to stabilize in the $60-65 range, which is favorable for deepwater drillers.

However, a correction should be expected if oil dips to the $55-60 range. In this case, I expect that Transocean shares will see significant support around $9.

On the other hand, the upside from current levels depends on oil's ability to test recent highs.