DLR finds support at 20-day moving average

Digital Realty Trust Inc (DLR) Technical Analysis Report for May 17, 2018

Highlights

DLR breaks key support level
DLR dominated by bears dragging the market lower throughout the day
DLR breaks below 100-day moving average
DLR finds support at 20-day moving average
DLR closes lower for the 4th day in a row

TQ Sentiment

Report Sentiment: 50% Bearish
Technical Forecast:

Overview

Moving lower for the 4th day in a row, DLR finished Thursday at 105.50 losing $1.40 (-1.31%) on high volume. Today's closing price of 105.50 marks the lowest close since May 8th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 106.22, the stock confirms its breakout through the previous session's low having traded $1.20 below it intraday.

Daily chart for DLR

Volatility

Thursday's trading range was $1.90 (1.78%), that's slightly below last trading month's daily average range of $2.06. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.

Support/Resistance

Breaking below the key support level at 105.76 today, it is now likely to act as resistance going forward. After trading as low as 105.02 during the day, the market found support at the 20-day moving average at 105.39.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already. Digital Realty broke below the 100-day moving average at 105.58 today for the first time since May 8th.

Order Flow

Selling could speed up should prices move below the close-by swing low at 103.74 where further sell stops might get activated. As prices are trading close to May's low at 103.67, downside momentum could accelerate should the share 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 Digital Realty Trust Inc

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Latest Report:

DLR breaks below 50-day moving average

Sep 21, 2018
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