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

By Amy Schwartz

Diamond Offshore Drilling (NYSE:DO) shares have crossed bullishly above their 10-day moving average of $11.52 on a volume of 828K 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.

Over the past year, Diamond Offshore Drilling has traded in a range of $10.71 to $35.95 and is now at $11.92, 11% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Diamond Offshore Drilling on April 21st, 2017 by issuing a Downtrend alert when the shares were trading at $14.81. Since that call, shares of Diamond Offshore Drilling have fallen 23.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Diamond Offshore Drilling

Ticker(s): DO