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DuPont de Nemours Inc., Technical Analysis

8/30/2022 11:49 AM

The shares of DuPont de Nemours Inc., an American chemical company, are trading within a corrective downtrend around 58.00.

On the daily chart, the price is falling within a wide channel with dynamic boundaries 60.00–50.00, making another attempt to consolidate above the resistance line at 60.00.

On the four-hour chart, it is clearly seen that the current upward impulse has a high potential to exit the channel, as the resistance line coincides with the initial Fibonacci 23.6% correction at 60.80, which serves as an additional signal for the start of a full-fledged corrective growth.

Technical indicators keep a stable buy signal: fast EMAs on the Alligator indicator are above the signal line, expanding the range of fluctuations, and the AO oscillator histogram is forming upward bars in the buying zone.

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