DLPH ends the day on a bearish note closing near the low of the day
Moving lower for the 3rd day in a row, DLPH finished the week -8.72% lower at 40.91 after losing $0.82 (-1.97%) today. Today's closing price of 40.91 marks the lowest close since February 26, 2013. Trading $0.26 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 41.36, the stock confirms its breakout through the prior session's low having traded $0.59 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Friday's trading range was $0.73 (1.77%), that's below last trading month's daily average range of $1.31. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average.
Unable to break through the key technical resistance level at 41.34, the share closed below it after spiking as high as 41.50 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Delphi Automotive
|Close near low of period||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
|Bearish Intraday Reversal||TQ Pro Members Only|
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