DISH unable to break through key resistance level

Dish Network (DISH) Technical Analysis Report for Jul 13, 2018

Highlights

DISH unable to break through key resistance level
DISH runs into sellers again around 33.77
DISH closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment:
33% Bearish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

DISH ended the week -4.0% lower at 33.59 after gaining $0.21 (0.63%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.

Daily chart for DISH

Volatility

Friday's trading range was $0.53 (1.59%), that's far below last trading month's daily average range of $0.95. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being way below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. Despite a weak opening the share managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

Unable to break through the key technical resistance level at 33.63, Dish Network closed below it after spiking as high as 33.77 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move above 33.89 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 33.77.

Trend

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Selling might speed up should prices move below the close-by swing low at 32.85 where further sell stops could get activated. As prices are trading close to July's low at 32.60, downside momentum might accelerate should DISH mark new lows for the month.

Conclusion

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

Market Conditions for Dish Network

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