Transocean CorrectionTransocean Ltd.BATS:RIGreasonableFlam46485I have been keeping tabs on RIG for a while now. Unfortunately, my lowly "Basic" status keeps me from posting more than one image and limits my indicators. The chart here shows some nice Fib channelization establishing possible support and resistance levels. The price is slightly overextended from the 50 D SMA and the 50 D SMA is overextend from the 365 D SMA. At some point the 50 D and the 365 D will likely balance a little more closely. Additionally, a Deviation Trend shows that RIG has been trading higher than average with volume petering out on the high side adding evidence for an incoming correction. If I were going to put money down on this, I would wait for a bounce off the 5.79 price or a solid breakthrough of 6.97. Also, Transocean Limited sounds like a cover name the CIA (or whatever the Swiss equivalent is) would use to commit espionage acts around the globe. Happy Drilling, I guess?