The Greedy Trader Weekly Analysis
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Diamond Offshore Drilling Inc.
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Summary:
Weekly :Oversold sector
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageWilliams' Percentage Range is oversoldMACD bullish divergencePrice is near the Fibonacci 23.6% retracement level
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It was the negative week for the Diamond Offshore Drilling Inc. (DO). During the week, the DO dropped -0.19 points, or -1.02%, and closed at 18.40 on Friday, August 10, 2018. Weekly volume was -51% below average.

DO is a member of Basic Materials Sector. Basic Materials is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See DO long-term trend chart]
A long-term uptrend had started on June 23, 2017 at 10.06 and reached 21.92 on June 28, 2018. DO gained -11.86 points, or -117.89%, in 52 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 16.32 and resistance is at 22.31. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.

Medium-term trend: [See DO medium-term trend chart]
A medium-term downtrend had started on June 28, 2018 at 21.92 and reached 17.86 on August 10, 2018. DO lost 4.06 points, or 18.52%, in 6 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 17.09 and resistance is at 19.53. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.

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

The weekly MACD line is below its signal line since July 27, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 July 30, 2018 at 20.34 and reached 17.86 on August 10, 2018. DO lost 2.48 points, or 12.19%, in 11 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See DO daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 Williams' Percentage Range help.

The daily MACD line is below its signal line since July 16, 2018. 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 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.46
Williams' Percentage Range (W%R) 91.10
Strong Oversold
Lane's Stochastic (%D-Slow) 25.91
Greed/Fear Indicator (GFI) 29.08
Moving Average Converg./Diverg. (MACD) -0.20 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.89
Williams' Percentage Range (W%R) 48.30
Lane's Stochastic (%D-Slow) 37.66
Greed/Fear Indicator (GFI) 45.92
Moving Average Converg./Diverg. (MACD) 0.84
Trading Signals
Description Value Chart
Upper Bollinger Band 19.99
Weekly Trendline Resistance 19.53
Parabolic System 19.47
50 Day Moving Average 19.23
Weekly Stochastic Crossing 19.04
20 Day Moving Average 18.90
Price 18.40
Daily Stochastic Crossing 18.22
Lower Bollinger Band 17.81
Weekly Trendline Support 17.09
Quarterly Trendline Support 16.32
Sector and Industry
Description Name Rank
Sector Basic Materials 2
Industry Oil & Gas Drilling/Explor 42
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 20.34
High Date 07/30/2018
Low 17.86
Low Date 08/10/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 19.53
Support 17.09
High 21.92
High Date 06/28/2018
Low 17.86
Low Date 08/10/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.64
Low Date 02/15/2018
High 21.92
High Date 06/28/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 22.31
Support 16.32
Low 10.06
Low Date 06/23/2017
High 21.92
High Date 06/28/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 149.30
High Date 12/26/2007
Low 10.06
Low Date 06/23/2017
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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