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DISCK closes above its opening price after recovering from early selling pressure


Technical Analysis Report for DISCK - Apr 16, 2018 [1 min read]
Highlights
DISCK pushes through key resistance level
DISCK closes above its opening price after recovering from early selling pressure
DISCK pushes through 200-day moving average
DISCK finds support at 200-day moving average
DISCK ends the day on a bullish note closing near the high of the day
TQ Sentiment
Technical Forecast:
Overview

DISCK finished Monday at 21.49 gaining $0.45 (2.14%) on low volume. Today's closing price of 21.49 marks the highest close since March 16th. Trading up to $0.43 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 21.48, the market confirms its breakout through the previous session's high having traded $0.05 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for DISCK
Volatility

Monday's trading range was $0.86 (4.08%), that's above last trading month's daily average range of $0.65. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar.

Support/Resistance

Breaking through the key resistance level at 21.46 today, it is now likely to act as support going forward. After having been unable to move above 21.48 in the prior session, the share ran into sellers again around the same price level today, failing to move higher than 21.53. After trading as low as 20.67 during the day, DISCK found support at the 200-day moving average at 21.09.

Trend

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The market managed to break above the 200-day moving average at 21.09 today for the first time since April 12th.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bullish Bounce off SMA 200 TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Bullish Break through SMA 200 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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