DuPont: bears in control, selling opportunity below $53.09

On the 19/01/2016 DuPont Nemours & Co close was at 53.22 (-1.61%). The main trend is down on the daily chart, the bears are in control.

On the 19/01/2016 DuPont Nemours & Co close was at 53.22 (-1.61%). Marked a series of 6 consecutive higher lows. New bearish technical picture drawn on daily chart (high2 > high1, high1 > high, low2 > low1, low1 > low, close2 > close1, close1 > close), we suggest to watch today closing. The main trend is down on the daily chart, the bears are in control. The negative value of many leading oscillators indicates infact a downward trend.
DUPONT DE NEMOURS AND CO.

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 61.01). The short term view is therefore bearish, however for today trading session we can’t exclude retracements towards the most significant resistance levels.
Volumes
Daily chart shows volume is lower than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 19/01/2016.

Performance: 7 trading days= -13.00% – 15 trading days= -19.93% – 30 trading days= -21.45%

Resistance levels: R1= 54.54 – R2= 55.87 – R3= 58.19
Pivot Point: 53.55
Support levels: S1= 52.22 – S2= 51.23 – S3= 48.91


DAILY TRADING SIGNALS

Buying opportunity above 53.54, targets minor resistance at 54.20 and perhaps as far as strong resistance at 54.67, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 55.79.

Selling opportunity below 53.09, targets minor support at 52.43 and perhaps as far as strong support at 51.96, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 50.82.