XRAY pushes through key resistance level


Dentsply International (XRAY) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
XRAY pushes through key resistance level
XRAY pushes through previous session high
XRAY rises to highest close since April 4th
XRAY still stuck within tight trading range
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

XRAY finished Monday at 50.19 gaining $1.19 (2.43%). Today's closing price of 50.19 marks the highest close since April 4th. Closing above Friday's high at 49.72, the market confirms its breakout through the prior session's high having traded $0.82 above it intraday.

Daily chart for XRAY
Volatility

Monday's trading range was $1.47 (2.98%), that's slightly above last trading month's daily average range of $1.35. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 48.81 and 50.54 which it has been in now for the last trading week.

Support/Resistance

Breaking through the key resistance level at 49.77 today, it is now likely to act as support going forward.

Trend

Although the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

With prices trading close to this year's low at 48.25, downside momentum might accelerate should the share break out to new lows for the year. As prices are trading close to April's high at 50.96, upside momentum could speed up should XRAY mark new highs for the month.

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 Dentsply International
ConditionForecastDirectionWinAvgWorstBestEvents
Black Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bearish Break through SMA 50 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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