DO climbs to highest close since January 26th

Diamond Offshore Drilling Inc. (DO) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team


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


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 Candlestick Chart (DO as at Apr 16, 2018):

Daily technical analysis candlestick chart for Diamond Offshore Drilling Inc. (DO) as at Apr 16, 2018

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.

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.

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

Market Conditions for DO as at Apr 16, 2018

Loading Market Conditions for DO (Diamond Offshore Drilling Inc.)...
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DO breaks below Wednesday's low

Apr 18, 2019
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