DMP.AX closes below its opening price unable to hold early session gains


Domino PIZZA Enterpr (DMP.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
DMP.AX closes below its opening price unable to hold early session gains
DMP.AX closes lower for the 3rd day in a row
DMP.AX breaks below previous session low
DMP.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, DMP.AX finished Thursday at 51.43 losing A$0.52 (-1.0%). Trading A$0.50 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 51.81, the market confirms its breakout through the prior session's low having traded A$0.75 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for DMP.AX
Volatility

Thursday's trading range was A$0.89 (1.73%), that's far below last trading month's daily average range of A$1.60. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

As prices are trading close to June's low at 49.72, downside momentum could speed up should Domino PIZZA 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 bearish.

Market Conditions for Domino PIZZA Enterpr
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Strong Up Move TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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