DRI runs into sellers again around 87.78
Darden Restaurants (DRI) Technical Analysis Report for May 17, 2018
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 Candlestick Chart (DRI as at May 17, 2018):
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.