New York, May 8th (TradersHuddle.com) - Shares of Diamond Offshore Drilling, Inc. (NYSE:DO) are trading very close to calculated support at $63.70 with price action closing at just $65.06 and placing the stock near levels where traders will start paying attention.
Diamond's stock range is defined by its calculated support defined at $63.70 and by the resistance level at $69.97, which should be used by traders planning their trades. These support and resistance levels are based on a peaks and troughs algorithm of the stock's price action.
Traders wanting to establish a position should pay close attention to Diamond's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $69.97 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.
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.
- AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
- AT&T 4G LTE Available In Willimantic
- AT&T 4G LTE Available In Torrington
- AT&T And The University Of Kansas Team Up To Enhance Wireless Coverage On Lawrence Campus
- AT&T 4G LTE Available In Fargo
- AT&T 4G LTE Available In Amarillo
- Benefitfocus Announces Pricing of Initial Public Offering
- Trends of China Gear Industry 2013 Analysis & Reviewed in New Research Report at RnRMarketResearch.com
- Product Launch Formula 4.0 Bonuses Total $5000 at BrianHanson.com
- Datex Presents Motorola Solutions Webinar “Is It ‘Smart’ to Use Smartphones for the Enterprise?”
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:17,697.81 Trade time:2:13PM EDT Value change:▼60.10 (-0.34%)
S&P 500Company ID [INDEXSP:.INX] Last trade:2,072.24 Trade time:2:13PM EDT Value change:▼5.18 (-0.25%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:4,995.54 Trade time:2:13PM EDT Value change:▼17.58 (-0.35%)
In The Wires
GW Pharmaceuticals Commences Phase 1 Clinical Trial of GWP42006 as a Potential Treatment for Epilepsy
NTT Communications and JBA's SDN Project Wins IBC 2013 Innovation Award
Frost & Sullivan Honours Interactive Intelligence with its EMEA Contact Centre Company of the Year Award
AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
$500,000 Shopify Build a Business Competition Has Just Been Announced for 2013
Solomon Associates Hydrocarbon Loss Reduction Seminar Shares Practices that Lead to Significant Savings
AT&T 4G LTE Available In Willimantic
AT&T 4G LTE Available In Torrington