Diamond Offshore Drilling Inc. Stock Forecast
Green day on Monday for Diamond Offshore Drilling Inc. stock after gaining 0.87%
(Updated on Jun 17, 2024)
The Diamond Offshore Drilling Inc. stock price gained 0.87% on the last trading day (Monday, 17th Jun 2024), rising from $15.01 to $15.14. During the last trading day the stock fluctuated 1.88% from a day low at $14.92 to a day high of $15.20. The price has risen in 6 of the last 10 days and is up by 7.53% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately $33.72 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $15.58 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.89% during the next 3 months and, with a 90% probability hold a price between $14.67 and $17.43 at the end of this 3-month period.
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DO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -2.32%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Diamond Offshore Drilling Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $15.09 and $14.32. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Diamond Offshore Drilling Inc. stock
Diamond Offshore Drilling Inc. finds support from accumulated volume at $15.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.280 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: $14.52 (-4.10%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 33 days ago.)
Trading Expectations (DO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Diamond Offshore Drilling Inc. to open at $15.09, and during the day (based on 14 day Average True Range), to move between $14.60 and $15.68, which gives a possible trading interval of +/-$0.537 (+/-3.55%) up or down from last closing price. If Diamond Offshore Drilling Inc. takes out the full calculated possible swing range there will be an estimated 7.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.26 (0.79%) than the support at $15.01 (0.86%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Diamond Offshore Drilling Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Diamond Offshore Drilling Inc. stock to perform well in the short-term.
Current score: 1.849 Buy Candidate Unchanged
Predicted Opening Price for Diamond Offshore Drilling Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $15.09 ( 0.352%) | $15.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.37 | 1.50% |
| R2 | 15.26 | 0.791% |
| R1 | 15.19 | 0.354% |
| Price | 15.14 | |
| S1 | 14.98 | -1.06% |
| S2 | 14.91 | -1.50% |
| S3 | 14.81 | -2.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.50 | 2.38% |
| R2 | 15.45 | 2.05% |
| R1 | 15.26 | 0.793% |
| Price | 15.14 | |
| S1 | 15.01 | -0.86% |
| S2 | 14.66 | -3.17% |
| S3 | 14.54 | -3.96% |
DO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 02, 2015 | Nov 10, 2015 | Dec 01, 2015 | $0.125 | 0% |
| 2 | Aug 03, 2015 | Aug 12, 2015 | Sep 01, 2015 | $0.125 | 0% |
| 3 | May 04, 2015 | May 13, 2015 | Jun 01, 2015 | $0.125 | 0% |
| 4 | Feb 09, 2015 | Feb 18, 2015 | Mar 02, 2015 | $0.125 | 0% |
| 5 | Oct 23, 2014 | Nov 03, 2014 | Dec 01, 2014 | $0.750 | 0% |
FAQ
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