The Greedy Trader Weekly Analysis
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Quarterly Price vs. Trendline:Testing Resistance
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Trend Line Resistance Trend Line Support Resistance.
Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.
Resistance Trend Line,Trend Line Resistance,Trend Line Support,Support Resistance,support and resistance,chart trend line,trend support

Diamond Offshore Drilling Inc. (DO)

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Summary:
Weekly :Broken trend resistance linePrice is near the Fibonacci 38.2% retracement level
Daily :Stochastic has declined below the signal lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Diamond Offshore Drilling Inc. (DO). During the week, the DO dropped -1.00 points, or -13.11%, and closed at 6.63 on Friday, January 10, 2020. It was the worst weekly loss since September 27, 2019. Weekly volume was -33% below average.

Long-term trend: [See DO long-term trend chart]
A long-term downtrend had started on June 28, 2018 at 21.92 and reached 4.77 on October 8, 2019. DO lost 17.15 points, or 78.24%, in 66 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (3.44) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See DO medium-term trend chart]
A medium-term uptrend had started on October 8, 2019 at 4.77 and reached 7.84 on January 6, 2020. DO gained -3.07 points, or -64.36%, in 12 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See DO weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since October 25, 2019. 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 uptrend had started on November 21, 2019 at 5.04 and reached 7.84 on January 6, 2020. DO gained -2.80 points, or -55.56%, in 46 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 6.31 and resistance is at 8.10. 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See DO daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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 link to access Lane's Stochastic help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.37
Williams' Percentage Range (W%R) 47.20
Lane's Stochastic (%D-Slow) 43.05
Greed/Fear Indicator (GFI) 49.08
Moving Average Converg./Diverg. (MACD) 0.35
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.47
Williams' Percentage Range (W%R) 46.50
Lane's Stochastic (%D-Slow) 79.07
Greed/Fear Indicator (GFI) 62.31
Moving Average Converg./Diverg. (MACD) -0.83
Trading Signals
Description Value Chart
Upper Bollinger Band 7.83
Parabolic System 7.73
Weekly Stochastic Crossing 7.34
Daily Stochastic Crossing 6.98
20 Day Moving Average 6.80
Price 6.63
Weekly Trendline Support 6.31
50 Day Moving Average 6.17
Lower Bollinger Band 5.76
Sector and Industry
Description Name Rank
Sector Basic Materials 4
Industry Oil & Gas Drilling/Explor 113
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 7.84
High Date 01/06/2020
Low 6.61
Low Date 01/10/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 8.10
Support 6.31
Low 5.04
Low Date 11/21/2019
High 7.84
High Date 01/06/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 4.77
Low Date 10/08/2019
High 7.84
High Date 01/06/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 4.37
Support 3.44
High 21.92
High Date 06/28/2018
Low 4.77
Low Date 10/08/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 149.30
High Date 12/26/2007
Low 4.77
Low Date 10/08/2019
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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