DWDP dominated by bears dragging the market lower throughout the day


DowDuPont (DWDP) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
DWDP tanks -1.85% closing $1.28 lower
DWDP breaks key support level
DWDP dominated by bears dragging the market lower throughout the day
DWDP ends the day on a bearish note closing near the low of the day
DWDP breaks below previous session low
TQ Sentiment
Report Sentiment: 71% Bearish
Technical Forecast:
Overview

DWDP ended the week 1.38% higher at 67.74 after tanking $1.28 (-1.85%) today. This is the biggest single day loss in over a week. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 68.14, the share confirms its breakout through the prior session's low having traded $0.52 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for DWDP
Volatility

Friday's trading range was $1.09 (1.59%), that's slightly below last trading month's daily average range of $1.21. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 67.53. Breaking below the key support level at 68.65 today, it is now likely to act as resistance going forward.

Trend

Although DowDuPont is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Selling could speed up should prices move below the close-by swing low at 67.53 where further sell stops might get triggered.

Conclusion

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

Market Conditions for DowDuPont
Condition Forecast Direction Win Avg Worst Best Events
Bearish Break through SMA 50 TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 100 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

DWDP breaks key support level

Aug 15, 2018
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