DVA closes within prior day's range

DaVita Inc. (DVA) Technical Analysis Report for Apr 16, 2018

Highlights

Traders officially love to sell DVA against 63.42 level
DVA closes higher for the 2nd day in a row
DVA still stuck within tight trading range
DVA closes within previous day's range
DVA ends the day indecisive

TQ Sentiment

Report Sentiment: 28% Bearish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, DVA finished Monday at 63.17 gaining $0.27 (0.43%). 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 DVA

Volatility

Monday's trading range was $1.10 (1.74%), that's slightly below last trading month's daily average range of $1.37. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 62.32 and 63.84 which it has been in now for the last trading week.

Support/Resistance

Prices are trading close to the key resistance level at 63.43. DaVita Inc. was sold again around 63.42 after having seen highs at 63.43, 63.41 and 63.38 in the last three trading sessions. Obviously there is something going on at that level.

Trend

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Buying could speed up should prices move above the nearby swing high at 63.43 where further buy stops might get activated. With prices trading close to this year's low at 61.72, downside momentum could accelerate should the share break out to new lows for the year.

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 DaVita Inc.

Loading Market Conditions for $DVA (DaVita Inc.)...
Latest Report:

DVA breaks below 200-day moving average

Sep 21, 2018
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