ADS dominated by bulls lifting the market higher throughout the day


Alliance Data Systems (ADS) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
ADS dominated by bulls lifting the market higher throughout the day
ADS unable to break through key resistance level
ADS pushes through previous session high
ADS rises to highest close since March 29th
ADS still stuck within tight trading range
TQ Sentiment
Report Sentiment: 40% Bullish
Technical Forecast:
Overview

ADS ended Monday at 210.55 gaining $4.57 (2.22%). Today's closing price of 210.55 marks the highest close since March 29th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 207.65, the stock confirms its breakout through the previous session's high having traded $4.55 above it intraday.

Daily chart for ADS
Volatility

Monday's trading range was $5.20 (2.51%), that's slightly above last trading month's daily average range of $5.08. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 204.91 and 212.20 which it has been in now for the last trading week.

Support/Resistance

Unable to break through the key technical resistance level at 211.25, the share closed below it after spiking as high as 212.20 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

Although the market is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

With prices trading close to this year's low at 203.67, downside momentum could speed up should ADS break out to new lows for the year. As prices are trading close to April's high at 214.04, upside momentum might accelerate should the stock mark new highs for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Alliance Data Systems
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Intraday Reversal TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bearish Hikkake Pattern TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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