DGX misses to close above 100-day moving average


Quest Diagnostics Incorporated (DGX) Technical Analysis Report for Sep 16, 2020 | by Techniquant Editorial Team

Highlights

DGX fails to close above 100-day moving average
DGX closes higher for the 3rd day in a row
DGX closes within previous day's range after lackluster session

Overview

Moving higher for the 3rd day in a row, DGX ended Wednesday at 114.55 gaining $0.96 (0.85%), strongly outperforming the S&P 500 (-0.46%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session.

Daily Candlestick Chart (DGX as at Sep 16, 2020):

Daily technical analysis candlestick chart for Quest Diagnostics Incorporated (DGX) as at Sep 16, 2020

Wednesday's trading range has been $2.07 (1.81%), that's below the last trading month's daily average range of $2.95. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for DGX.

One bearish candlestick pattern matches today's price action, the Shooting Star. The last time a Shooting Star showed up on July 23rd, DGX lost -2.05% on the following trading day.

After spiking up to 116.02 during the day, Quest Diagnostics found resistance at the 100-day moving average at 115.92.

The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Among the four market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Bounce off SMA 100" stand out. Its common bearish interpretation has been confirmed for Quest Diagnostics. Out of 27 times, DGX closed lower 62.96% of the time on the next trading day after the market condition occurred.


Market Conditions for DGX as at Sep 16, 2020

Loading Market Conditions for DGX (Quest Diagnostics Incorporated)...
Latest Report:

DGX closes within previous day's range

Sep 18, 2020
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