DRI runs into sellers again around 87.78


Darden Restaurants (DRI) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
DRI breaks key support level
DRI closes lower for the 2nd day in a row
DRI runs into sellers again around 87.78
DRI breaks below previous session low
DRI falls to lowest close since April 3rd
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

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.

Daily chart for DRI
Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

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.

Market Conditions for Darden Restaurants
Condition Forecast Direction Win Avg Worst Best Events
Strong Up Move TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
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