DWDP dominated by bears dragging the market lower throughout the day


DowDuPont (DWDP) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team

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

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 Candlestick Chart (DWDP as at Aug 10, 2018):

Daily technical analysis candlestick chart for DowDuPont (DWDP) as at Aug 10, 2018

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.

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.

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.

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


Market Conditions for DWDP as at Aug 10, 2018

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