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Diamond Offshore Drilling Bullish Moving Average Crossover Alert (DO)

By James Quinn

Today, shares of Diamond Offshore Drilling (NYSE:DO) have advanced above their 10-day MA of $24.68 on a volume of 404K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Diamond Offshore Drilling share prices have been bracketed by a low of $14.18 and a high of $35.95 and are now at $25.06, 77% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of Diamond Offshore Drilling on January 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.34. Since that recommendation, shares of Diamond Offshore Drilling have risen 32.6%. We continue to monitor DO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Diamond Offshore Drilling

Ticker(s): DO