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DHR climbs to highest close since March 16th


Technical Analysis Report for DHR - Apr 16, 2018 [1 min read]
Highlights
DHR unable to break through key resistance level
DHR closes higher for the 3rd day in a row
DHR pushes through previous session high
DHR rises to highest close since March 16th
DHR still stuck within tight trading range
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, DHR finished Monday at 100.42 gaining $1.18 (1.19%) on low volume. Today's closing price of 100.42 marks the highest close since March 16th. Closing above Friday's high at 99.76, the stock confirms its breakout through the prior session's high having traded $1.17 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for DHR
Volatility

Monday's trading range was $0.92 (0.92%), that's far below last trading month's daily average range of $1.85. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 98.03 and 100.93 which it has been in now for the last trading week.

Support/Resistance

Unable to break through the key technical resistance level at 100.54, the share closed below it after spiking as high as 100.93 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

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

Order Flow

Selling could accelerate should prices move below the close-by swing low at 98.72 where further sell stops might get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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