DLR finds support at 50-day moving average

Digital Realty Trust Inc (DLR) Technical Analysis Report for Apr 16, 2018

Highlights

DLR closes above its opening price after recovering from early selling pressure
DLR pushes through 50-day moving average
DLR finds support at 50-day moving average
DLR closes higher for the 2nd day in a row
DLR pushes through previous session high

TQ Sentiment

Report Sentiment: 62% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, DLR finished Monday at 103.19 gaining $0.75 (0.73%) on low volume. Trading up to $0.80 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 102.57, the share confirms its breakout through the previous session's high having traded $1.14 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for DLR

Volatility

Monday's trading range was $1.68 (1.63%), that's below last trading month's daily average range of $2.25. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.

Support/Resistance

Prices are trading close to a key support level at 101.73. After trading as low as 102.03 during the day, Digital Realty found support at the 50-day moving average at 102.60.

Trend

Though the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory. DLR managed to break above the 50-day moving average at 102.60 today for the first time since April 4th.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 105.44 where further buy stops might get activated. Further buying could move prices higher should the market test March's nearby high at 106.61.

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.

Market Conditions for Digital Realty Trust Inc

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Latest Report:

DLR breaks below 50-day moving average

Sep 21, 2018
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