XRAY breaks below prior session low
Moving lower for the 2nd day in a row, XRAY ended the week -18.25% lower at 39.02 after losing $1.10 (-2.74%) today. Today's closing price of 39.02 marks the lowest close since December 28, 2012. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 40.07, Dentsply International confirms its breakout through the prior session's low having traded $1.27 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Friday's trading range was $1.23 (3.08%), that's slightly above last trading month's daily average range of $1.22. Weekly volatility is also higher, being way above the markets average with the monthly volatility being way above average.
After trading as low as 38.80 during the day, the share bounced off the key support level at 38.83. The failure to close below the support could increase that levels importance as support going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
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 Dentsply International
|Close to R1 Resistance||TQ Pro Members Only|
|52 Week Low||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Hammer||TQ Pro Members Only|
|Homing Pigeon||TQ Pro Members Only|
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