DRI runs into sellers again around 87.78
Moving lower for the 2nd day in a row, DRI finished Thursday at 85.94 losing $1.28 (-1.47%) on high volume. Today's closing price of 85.94 marks the lowest close since April 3rd. Closing below Wednesday's low at 87.01, the share confirms its breakout through the previous session's low having traded $2.02 below it intraday.
Thursday's trading range was $2.79 (3.21%), that's far above last trading month's daily average range of $1.66. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.
Breaking below the key support level at 86.30 today, it is now likely to act as resistance going forward. After having been unable to move above 87.82 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 87.78.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.
Report Market Conditions
|Price broke through Technical Support S1||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|2 Consecutive Lower Closes||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Stocks Top Movers