BUY! Diamond Offshore Drilling (DO) NYSE

  Report No. 844    Analysis by: Harry Aloof     AUGUST 5, 1999

DIAMOND OFFSHORE DRILLING (DO-NYSE): Technical Viewpoint: From a low of $25.81 on Jun 6, 1999 prices rallied, reaching a high of $30 7/8 on Jun 16, 1999. A decline saw prices pull back, reaching a low of $25 3/4 on Jun 5, 1999. Another rally saw prices penetrate resistance, closing 8/4/99 at $33.81. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Jul 9, 1999 when the Histogram crossed the "0" line to the upside. Support: Remains at $29.00. Resistance: Is at $32.50. Point & Figure: Reversed to the upside on Jul 26, 1999. A P&F upside reversal takes place at $32 1/2. Summary: Technical indicators have turned bullish. BUY! Diamond Offshore Drilling (DO-NYSE) @ $34 1/8 Stop: Use a protective stop of $32 1/4. Diamond Offshore Drilling is currently trading @ $33.81 plus $2.18 on Aug 4, 1999. Price Objective: $46.00. Risk/Reward: $1 7/8 VS. $11 7/8. Today's Risk Reward Ratio: 6:1

Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study

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Price Objective:
$46.00 Risk/Reward:
$1 7/8 VS. $11 7/8 Risk/Reward Ratio:
6:1
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