DLPH dominated by bears dragging the market lower throughout the day


Delphi Automotive (DLPH) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
DLPH tanks -2.01% on low volume
DLPH dominated by bears dragging the market lower throughout the day
DLPH breaks below 20-day moving average
DLPH closes lower for the 3rd day in a row
DLPH ends the day on a bearish note closing near the low of the day
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, DLPH ended Thursday at 51.76 tanking $1.06 (-2.01%) on low volume. This is the biggest single day loss in over two months. Today's closing price of 51.76 marks the lowest close since June 6th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 52.20, Delphi Automotive confirms its breakout through the prior session's low having traded $0.49 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for DLPH
Volatility

Thursday's trading range was $1.41 (2.66%), that's above last trading month's daily average range of $1.16. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 50.96.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The share broke below the 20-day moving average at 52.10 today for the first time since May 31st.

Order Flow

Selling might accelerate should prices move below the close-by swing low at 51.35 where further sell stops could get triggered. As prices are trading close to June's low at 50.30, downside momentum might speed up should the market 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 Delphi Automotive
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Break through SMA 50 TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Bearish Break through SMA 100 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

DLPH breaks below previous session low

Jun 21, 2018
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