Diamond Offshore Drilling Is Close to the 50 Day Moving Average
Published on Wednesday, 25 April 2012 06:00 Written by TradersHuddle Wire
New York, April 25th (TradersHuddle.com) - Diamond Offshore Drilling, Inc. (NYSE:DO) closed the trading day at $67.91, near its 50 day moving average that is set at $67.39. Diamond's price action is just above this important support level, providing a trading opportunity.
Diamond Offshore Drilling, Inc. (NYSE:DO) 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.
The peaks and troughs algorithm shows calculated support at $63.70 and calculated resistance at $70.30. These levels should also be evaluated when planning trades, as they provide an insight into the latest price action.
Traders wanting to establish a position on Diamond Offshore Drilling should look for evidence of buying near the 50 day moving average, and open this position as close as possible to this important level. Also, they need to consider the latest range defined by the peaks and troughs algorithm for insights on other key levels that might impact an upside or downside move.
- 'Unusual Event' Declared and Ended at Susquehanna Nuclear Plant
- PPL's Presentation to be Webcast from Barclays Conference
- Court Ruling Removes Final Hurdle for Susquehanna-Roseland Line Construction
- PPL to Pay Quarterly Stock Dividend Oct. 1
- Power Line Construction Set to Begin in Delaware Water Gap National Recreation Area
- PPL Presentation at Goldman Sachs Conference Aug. 8 to Be Webcast
- PPL Corporation Reports Second-Quarter Earnings
- PPL Corporation to Conduct Webcast on Second-Quarter 2013 Results
- Operators Reconnect Unit 1 at PPL Susquehanna to Power Grid After Completing Valve Repair
- Unit 1 at Susquehanna Nuclear Power Plant Disconnected from Grid for Valve Repair
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines