DXC finds support at 200-day moving average


DXC Technology (DXC) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
DXC breaks below 100-day moving average
DXC finds buyers at key support level
DXC finds support at 200-day moving average
DXC closes lower for the 2nd day in a row
DXC breaks below previous session low
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, DXC finished the week -0.35% lower at 86.10 after losing $1.15 (-1.32%) today. Today's closing price of 86.10 marks the lowest close since August 1st. Closing below Thursday's low at 87.10, DXC Technology confirms its breakout through the previous session's low having traded $2.10 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for DXC
Volatility

Friday's trading range was $1.95 (2.25%), that's above last trading month's daily average range of $1.54. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 85.00 during the day, the market bounced off the key support level at 85.82. The failure to close below the support could increase that levels importance as support going forward. After trading as low as 85.00 during the day, the stock found support at the 200-day moving average at 85.71.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The share broke below the 100-day moving average at 86.49 today for the first time since July 27th.

Conclusion

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

Market Conditions for DXC Technology
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

DXC finds buyers again around 86.50

Aug 17, 2018
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