DUK finds support at 200-day moving average


Duke Energy (DUK) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
DUK finds buyers at key support level
DUK pushes through 200-day moving average
DUK finds support at 200-day moving average
DUK closes higher for the 4th day in a row
DUK finds buyers again around 79.98
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

Moving higher for the 4th day in a row, DUK ended the week -1.23% lower at 80.62 after gaining $0.12 (0.15%) today. Today's closing price of 80.62 marks the highest close since July 6th. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for DUK
Volatility

Friday's trading range was $0.95 (1.18%), that's slightly below last trading month's daily average range of $1.18. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 79.69 and 80.93 which it has been in now for the last three days.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bearish Outside Bar.

Support/Resistance

After trading as low as 79.98 during the day, the stock bounced off the key support level at 80.37. The failure to close below the support might increase that levels importance as support going forward. Prices are trading close to the key resistance level at 81.70. After having been unable to move lower than 80.10 in the previous session, Duke Energy found buyers again around the same price level today at 79.98. After trading as low as 79.98 during the day, the market found support at the 200-day moving average at 80.57.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The share managed to break above the 200-day moving average at 80.57 today for the first time since July 6th.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 81.70 where further buy stops might get triggered.

Conclusion

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

Market Conditions for Duke Energy
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 200 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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