DOV closes higher for the 3rd day in a row
Moving higher for the 3rd day in a row, DOV ended Monday at 94.30 gaining $0.44 (0.47%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.
Monday's trading range was $0.67 (0.71%), that's far below last trading month's daily average range of $2.34. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average. Prices continued to consolidate within a tight trading range between 93.12 and 95.47 which it has been in now for the last trading week.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
Prices are trading close to the key resistance level at 95.25. After having been unable to move above 94.96 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 94.89.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Buying could accelerate should prices move above the close-by swing high at 94.96 where further buy stops might get activated. Selling could speed up should prices move below the nearby swing low at 93.12 where further sell stops might get triggered. With prices trading close to this year's low at 92.28, downside momentum could accelerate should Dover Corp. break out to new lows for the year.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.
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|High close to previous High||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|3 Consecutive Higher Closes||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
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