DPZ drops to lowest close since August 7th

Domino's Pizza Inc (DPZ) Technical Analysis Report for Sep 14, 2018

Highlights

DPZ breaks key support level
DPZ dominated by bears dragging the market lower throughout the day
DPZ breaks below 50-day moving average
DPZ closes lower for the 5th day in a row
DPZ ends the day on a bearish note closing near the low of the day

TQ Sentiment

Report Sentiment: 75% Bearish
Technical Forecast:

Overview

Moving lower for the 5th day in a row, DPZ ended the week -4.77% lower at 280.05 after losing $4.79 (-1.68%) today on high volume. Today's closing price of 280.05 marks the lowest close since August 7th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 281.86, the stock confirms its breakout through the prior session's low having traded $3.22 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for DPZ

Volatility

Friday's trading range was $7.31 (2.56%), that's above last trading month's daily average range of $5.64. Weekly volatility is also higher, being above the markets average with the monthly volatility being below average.

Support/Resistance

Breaking below the key support level at 281.84 today, it is now likely to act as resistance going forward. After having been unable to move above 286.18 in the previous session, Domino's Pizza ran into sellers again around the same price level today, failing to move higher than 285.95.

Trend

Although the market is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive. The share broke below the 50-day moving average at 282.84 today for the first time since July 24th.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Domino's Pizza Inc

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