ADI pushes through key resistance level


Analog Devices, Inc. (ADI) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
ADI pushes through key resistance level
ADI dominated by bulls lifting the market higher throughout the day
ADI closes higher for the 2nd day in a row
ADI ends the day on a bullish note closing near the high of the day
ADI pushes through previous session high
TQ Sentiment
Report Sentiment: 66% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, ADI finished Thursday at 95.04 gaining $0.27 (0.28%). Today's closing price of 95.04 marks the highest close since April 17th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 94.80, the share confirms its breakout through the previous session's high having traded $0.37 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for ADI
Volatility

Thursday's trading range was $1.01 (1.07%), that's far below last trading month's daily average range of $1.69. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking through the key resistance level at 95.01 today, it is now likely to act as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

With prices trading close to this year's high at 98.38, upside momentum could accelerate should the market be able to break out to new highs for the year. Trading close to March's high at 96.85 we might see further upside momentum if potential buy stops at the level get triggered.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Market Conditions for Analog Devices, Inc.
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
Black Candle TQ Pro Members Only
Bearish Short Candle TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bearish Break through SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

ADI breaks below 20-day moving average

Jul 16, 2018
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