$DIA Analysis, Key Levels & Targets for 10.23.24
The implied move for DIA tomorrow is between 424 and 434, while the implied move for the week remains between 427 and 438. Anything below 427 is considered very oversold for the week.
To the upside, the 35 EMA is right at where we closed today, and it’s the first level we need to pay attention to. If we get above that, the next resistance level is around 431, where a pivot resistance-turned-support lies. If we break through that, the next target will be the all-time highs at 433.20, with 434 as the top of the implied move for tomorrow.
On the downside, 427 is the bottom of the implied move for the week. We bounced off that level today, and it’s been a key support level on October 16, 15, and even had some action on October 14. So, 427 is our current support. Underneath that, we have the 30-minute 200 moving average.
If we break below the 30-minute moving average, there’s still some of the trading range left below us. We also have the gap from PPI data back on October 11, with the bottom of that gap aligning with the implied move bottom at 424. Below that, we have the one-hour 200 moving average, providing additional support at the very bottom of tomorrow’s trading range.
To the upside, the 35 EMA is right at where we closed today, and it’s the first level we need to pay attention to. If we get above that, the next resistance level is around 431, where a pivot resistance-turned-support lies. If we break through that, the next target will be the all-time highs at 433.20, with 434 as the top of the implied move for tomorrow.
On the downside, 427 is the bottom of the implied move for the week. We bounced off that level today, and it’s been a key support level on October 16, 15, and even had some action on October 14. So, 427 is our current support. Underneath that, we have the 30-minute 200 moving average.
If we break below the 30-minute moving average, there’s still some of the trading range left below us. We also have the gap from PPI data back on October 11, with the bottom of that gap aligning with the implied move bottom at 424. Below that, we have the one-hour 200 moving average, providing additional support at the very bottom of tomorrow’s trading range.
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I am not your financial advisor.
I am not your financial advisor.
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