DWDP breaks below previous session low

DowDuPont (DWDP) Technical Analysis Report for Sep 14, 2018

Highlights

DWDP breaks below 200-day moving average
DWDP closes lower for the 3rd day in a row
DWDP ends the day on a bearish note closing near the low of the day
DWDP breaks below previous session low
DWDP falls to lowest close since August 23rd

TQ Sentiment

Report Sentiment: 57% Bearish
Technical Forecast:

Overview

Moving lower for the 3rd day in a row, DWDP finished the week -2.03% lower at 68.58 after losing $0.34 (-0.49%) today. Today's closing price of 68.58 marks the lowest close since August 23rd. Closing below Thursday's low at 68.82, the stock confirms its breakout through the prior session's low having traded $0.40 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 $1.13 (1.63%), that's slightly above last trading month's daily average range of $1.12. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 67.84. Prices are trading close to the key resistance level at 69.24.

Trend

Although the share is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive. DowDuPont broke below the 200-day moving average at 68.78 today for the first time since June 13th.

Conclusion

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

Market Conditions for DowDuPont

Condition Forecast Direction Win Rate Exit Day Events
Bullish Outside Bar TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
Bullish Break through SMA 200 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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