DLPH dominated by bears dragging the market lower throughout the day
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.
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.
Prices are trading close to a key support level at 50.96.
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.
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.
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
|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|
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