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Diamond Offshore Drilling Crosses Above its 10-day MA (DO)

By Shiri Gupta

Today, shares of Diamond Offshore Drilling (NYSE:DO) have crossed bullishly above their 10-day moving average of $23.87 on a volume of 364K 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 $24.22, 71% above that low price. Over the past week, 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 28.1%. 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