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 | by Techniquant Editorial Team
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 Candlestick Chart (DMP.AX as at Jun 14, 2018):
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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.