DXC finds support at 200-day moving average
DXC Technology Company (DXC) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (DXC as at Aug 10, 2018):
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.
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.
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.