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Diamond Offshore Drilling Inc.
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|It was a first positive week for the Diamond Offshore Drilling Inc. (DO). During the week, the DO gained 0.72 points, or 4.51%, and closed at 16.68 on Friday, December 01, 2017. Weekly volume was -30% below average. |
Long-term trend: [See DO long-term trend chart]
A long-term downtrend had started on June 8, 2016 at 26.72 and reached 10.06 on June 23, 2017. DO lost 16.66 points, or 62.35%, in 54 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (16.42). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
Medium-term trend: [See DO medium-term trend chart]
A medium-term uptrend had started on June 23, 2017 at 10.06 and reached 17.95 on November 10, 2017. DO gained -7.89 points, or -78.43%, in 20 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 10.46 and resistance is at 18.92. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See DO weekly technical indicators chart]
Weekly Relative Strength Index is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The weekly MACD line is above its signal line since July 28, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See DO short-term trend chart]
A short-term downtrend had started on November 10, 2017 at 17.95 and reached 15.15 on November 15, 2017. DO lost 2.80 points, or 15.60%, in 5 days. The chart has formed a Ascending Triangle chart pattern.
Daily Technical Indicators: [See DO daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since November 10, 2017. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.