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Diamond Offshore Drilling (DO) Breaks Through Support at $15.41

By Amy Schwartz

Diamond Offshore Drilling (NYSE:DO) has opened bearishly below the pivot of $15.65 today and has reached the first level of support at $15.41. Investors may be interested in a cross of the next downside pivot targets of $15.25 and $14.85.

Over the past year, Diamond Offshore Drillinghas traded in a range of $0.00 to $35.95 and are now at $0.00. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.

Diamond Offshore Drilling (NYSE:DO) has potential upside of 0.0% based on a current price of $0.00 and analysts' consensus 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.

SmarTrend recommended that its subscribers protect gains by selling shares of Diamond Offshore Drilling on December 28th, 2016 by issuing a Downtrend alert when the shares were trading at $18.23. Since that call, shares of Diamond Offshore Drilling have fallen 14.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts Diamond Offshore Drilling

Ticker(s): DO