ADS ends the day indecisive
Alliance Data Systems (ADS) Technical Analysis Report for Jul 13, 2018
ADS ended the week 1.21% higher at 243.50 after losing $0.66 (-0.27%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $3.32 (1.36%), that's below last trading month's daily average range of $4.71. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 241.07 and 245.93 which it has been in now for the last trading week.
Prices are trading close to the key resistance level at 245.21.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Buying might speed up should prices move above the nearby swing high at 245.21 where further buy stops could get triggered. Selling might accelerate should prices move below the close-by swing low at 241.07 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.