• Return to Headlines

Shares of Diamond Offshore Drilling Fall Below Previous 52-Week Low

By David Diaz

Shares of Diamond Offshore Drilling (NYSE:DO) traded at a new 52-week low today of $10.60. So far today approximately 378,000 shares have been exchanged, as compared to an average 30-day volume of 2.5 million shares.

There is potential upside of 58.5% for shares of Diamond Offshore Drilling based on a current price of $10.64 and an average consensus analyst price target of $16.87. The stock should run into initial resistance at its 200-day moving average (MA) of $21.03 and subsequent resistance at its 50-day MA of $22.39.

Diamond Offshore Drilling, Inc. drills offshore oil and gas wells on a contract basis. The Company is a world-wide deep water driller that serves markets that include the deep water, harsh environment, conventional semisubmersible and jack-up markets.

In the past 52 weeks, shares of Diamond Offshore Drilling have traded between the current low of $10.60 and a high of $35.95 and are now at $10.64. 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 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 25.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Diamond Offshore Drilling

Ticker(s): DO