DO climbs to highest close since January 26th


Diamond Offshore Drilling (DO) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
DO finds buyers at key support level
DO closes higher for the 6th day in a row
DO pushes through previous session high
DO rises to highest close since January 26th
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

Moving higher for the 6th day in a row, DO ended Monday at 18.71 gaining $0.19 (1.03%) on low volume. Today's closing price of 18.71 marks the highest close since January 26th. Closing above Friday's high at 18.63, the stock confirms its breakout through the prior session's high having traded $0.32 above it intraday.

Daily chart for DO
Volatility

Monday's trading range was $0.69 (3.73%), that's slightly below last trading month's daily average range of $0.82. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being way above average.

Support/Resistance

After trading as low as 18.26 during the day, the share bounced off the key support level at 18.37. The failure to close below the support might increase that levels importance as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Diamond Offshore Drilling
ConditionForecastDirectionWinAvgWorstBestEvents
Bullish Bounce off SMA 50 TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
In-Neck Pattern TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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