Stocks With Rising Relative Price Strength: Diamond Offshore Drill

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On Thursday, Diamond Offshore Drill ( DO ) reached an important technical milestone, seeing its Relative Strength ( RS ) Rating jump into the 80-plus percentile with an improvement to 85, up from 80 the day before.

[ibd-display-video id=2531707 width=50 float=left autostart=true] IBD's proprietary rating measures share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.

Decades of market research reveals that the best-performing stocks often have an 80 or higher RS Rating as they launch their biggest runs.

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Diamond Offshore Drill is not currently offering a proper buying opportunity. See if the stock goes on to build a sound pattern that could launch a new move.

Earnings-per-share growth dropped last quarter from 181% to 150%, but sales rose from 3% to 5%.

Diamond Offshore Drill holds the No. 1 rank among its peers in the Oil & Gas-Drilling industry group. Patterson-Uti Energy ( PTEN ) and Rowan Companies ( RDC ) are also among the group's highest-rated stocks.


IBD Stock Rating Upgrades: Rising Relative Strength

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How Relative Strength Line Can Help You Judge A Stock

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Symbols: DO , RS , PTEN , RDC

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