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
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$46.00
Risk/Reward:
$1 7/8 VS. $11 7/8
Risk/Reward Ratio:
6:1
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