GD dominated by bears dragging the market lower throughout the day


General Dynamics (GD) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
GD tanks -2.0% on high volume
GD breaks key support level
GD dominated by bears dragging the market lower throughout the day
GD ends the day on a bearish note closing near the low of the day
GD runs into sellers again around 201.00
TQ Sentiment
Technical Forecast:
Overview

GD finished Thursday at 195.82 tanking $4.00 (-2.0%) on high volume. This is the biggest single day loss in over two weeks. Today's closing price of 195.82 marks the lowest close since May 4th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 198.08, the market confirms its breakout through the prior session's low having traded $2.57 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 GD
Volatility

Thursday's trading range was $5.49 (2.73%), that's far above last trading month's daily average range of $3.09. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to a key support level at 194.47. Breaking below the key support level at 199.05 today, it is now likely to act as resistance going forward. After having been unable to move above 201.27 in the previous session, the stock ran into sellers again around the same price level today, failing to move higher than 201.00.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

With prices trading close to this year's low at 191.00, downside momentum could speed up should General Dynamics break out to new lows for the year.

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 General Dynamics
ConditionForecastDirectionWinAvgWorstBestEvents
Down Close Near Low of Period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
52 Week Low TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
Black Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when General Dynamics traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

ETHUSD 536.1919.91 3.86%
NKY 22,555.43276.95 1.24%
HSI 29,696.17228.02 0.77%
BTCUSD 6,737.8430.35 0.45%
DXY 94.7300.270 0.29%
EURUSD 1.1592-0.0031 -0.27%
GOLD 1,277.0-3.6 -0.28%
NDX 7,228.04-23.37 -0.32%
FTSE 7,603.85-27.45 -0.36%
SPX 2,762.57-11.30 -0.41%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.01 -0.47
-0.48%
ACN 10 day candlestick chart for ACN163.31 0.43
0.26%
ADBE 10 day candlestick chart for ADBE251.74 -3.95
-1.54%
AAP 10 day candlestick chart for AAP138.30 0.06
0.04%
AES 10 day candlestick chart for AES13.08 0.01
0.08%
AET 10 day candlestick chart for AET189.28 2.33
1.25%
AFL 10 day candlestick chart for AFL45.00 -0.17
-0.38%
AMG 10 day candlestick chart for AMG154.00 1.00
0.65%
A 10 day candlestick chart for A63.52 -1.45
-2.23%
ABT 10 day candlestick chart for ABT62.34 -0.48
-0.76%