DISH runs into sellers again around 33.22
DISH Network Corporation (DISH) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
DISH finished Thursday at 32.65 losing $0.33 (-1.0%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.
Daily Candlestick Chart (DISH as at May 17, 2018):
Thursday's trading range was $0.79 (2.4%), that's below last trading month's daily average range of $1.37. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar. After moving higher in the prior session, the share closed lower but above the previous day's open today, forming a bearish Harami Candle.
Prices are trading close to a key support level at 32.03. After having been unable to move above 33.29 in the prior session, Dish Network ran into sellers again around the same price level today, failing to move higher than 33.22.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying might speed up should prices move above the close-by swing high at 33.29 where further buy stops could get activated.