DOV breaks below prior session low
Moving lower for the 3rd day in a row, DOV ended the week -0.84% lower at 81.55 after losing $0.87 (-1.06%) today on low volume. Today's closing price of 81.55 marks the lowest close since August 1st. Closing below Thursday's low at 82.38, the market confirms its breakout through the previous session's low having traded $1.19 below it intraday.
Friday's trading range was $1.13 (1.38%), that's below last trading month's daily average range of $1.56. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Selling might speed up should prices move below the nearby swing low at 80.30 where further sell stops could get triggered.
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 Dover Corp.
|Close to R1 Resistance||TQ Pro Members Only|
|Decisive Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|High close to previous three Highs||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
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