Thread by @malteseinvest

Analysis: #NYSE $DXC

Case 48 #DXCTechnology

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

Thread 👇👇👇

#DXC 1/6

Since peaking at 107.85 DXC Technology was slammed lower and is very #bearish in the longer term. Although the daily chart points to some bullishness we expect further downside for the months ahead.

DXC 2/6

Chart 1
Monthly Chart: A close above the 14 year #pivot was finally achieved in Feb. 2014 - this was the early start that would propel the bullish move towards the all time high at 107.85. ......

DXC 3/6

.... Within one year the stock turned extremely bearish. Buyers entered around the SMA 200 and the broken 14 year pivot.

DXC 4/6

Chart 2
Weekly Chart: The main #SMAs are all pointing downwards, Fib supports have broke down. Pivot resistances are clearly defined. A strong area of #confluence: Fib 0.618 and pivot resistances lie in the zone 46.55 - 47.04.

DXC 5/6

Chart 3
Daily Chart: The SMA 20 is about to cut above the SMA 50 and base building off the broken 14 year pivot can be seen. A large unfilled gap exists between 49.89 - 39.87. The SMA 200 is above the top of the gap.

The #Strategy - printed on the image.

DXC 6/6