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DLPH closes above its opening price after recovering from early selling pressure


Technical Analysis Report for DLPH - Apr 16, 2018 [1 min read]
Highlights
DLPH runs into sellers around 50.20 for the third day in a row
DLPH closes above its opening price after recovering from early selling pressure
DLPH pushes through 50-day moving average
DLPH rises to highest close since April 5th
DLPH still stuck within tight trading range
TQ Sentiment
Technical Forecast:
Overview

DLPH ended Monday at 49.84 gaining $0.83 (1.69%). Today's closing price of 49.84 marks the highest close since April 5th. Trading up to $0.37 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for DLPH
Volatility

Monday's trading range was $0.84 (1.69%), that's below last trading month's daily average range of $1.23. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 48.81 and 50.20 which it has been in now for the last trading week.

Support/Resistance

Prices are trading close to the key resistance level at 50.26. The share ran into sellers again today around 50.20 for the third trading day in a row after having found sellers at 50.19 in the prior session and at 50.00 two days ago.

Trend

Although the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. DLPH managed to break above the 50-day moving average at 49.27 today for the first time since April 12th.

Order Flow

Selling might speed up should prices move below the close-by swing low at 48.88 where further sell stops could get activated. As prices are trading close to April's high at 50.93, upside momentum might accelerate should the market mark new highs 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 very bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bullish Break through SMA 50 TQ Pro Members Only
High close to previous two Highs TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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