ACM closes lower for the 2nd day in a row
Moving lower for the 2nd day in a row, ACM finished the week -0.03% lower at 33.63 after losing $0.10 (-0.3%) today on high volume. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.
Friday's trading range was $0.59 (1.77%), that's slightly below last trading month's daily average range of $0.72. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 32.98 and 34.18 which it has been in now for the last three days.
Prices are trading close to a key support level at 33.13. Prices are trading close to the key resistance level at 34.20. After trading as low as 33.23 during the day, the market found support at the 50-day moving average at 33.27.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Buying might accelerate should prices move above the nearby swing high at 34.18 where further buy stops could get triggered.
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 Aecom Technology Corp
|Close to R1 Resistance||TQ Pro Members Only|
|Decisive Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
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