GD closes lower for the 3rd day in a row


General Dynamics (GD) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
GD closes lower for the 3rd day in a row
GD breaks below previous session low
GD falls to lowest close since July 16th
GD ends the day indecisive
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, GD finished the week -1.17% lower at 191.81 after losing $0.76 (-0.39%) today on low volume. Today's closing price of 191.81 marks the lowest close since July 16th. Closing below Thursday's low at 192.40, the stock confirms its breakout through the previous session's low having traded $1.74 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 GD
Volatility

Friday's trading range was $2.11 (1.1%), that's below last trading month's daily average range of $3.44. 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 the key resistance level at 192.78.

Trend

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

Conclusion

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

Market Conditions for General Dynamics
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

GD pushes through 50-day moving average

Aug 17, 2018
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