ADS closes within prior day's range after lackluster session


Alliance Data Systems (ADS) Technical Analysis Report for May 17, 2018

Highlights

ADS unable to break through key resistance level
ADS closes higher for the 2nd day in a row
ADS runs into sellers again around 211.61
ADS rises to highest close since April 19th
ADS closes within previous day's range after lackluster session

Overview

Moving higher for the 2nd day in a row, ADS finished Thursday at 210.57 gaining $0.89 (0.42%) on low volume. Today's closing price of 210.57 marks the highest close since April 19th. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily Candlestick Chart (ADS as at May 17, 2018):

Daily technical analysis candlestick chart for Alliance Data Systems (ADS) as at May 17, 2018

Thursday's trading range was $1.99 (0.95%), that's far below last trading month's daily average range of $3.86. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Unable to break through the key technical resistance level at 211.25, Alliance Data closed below it after spiking as high as 211.61 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move above 211.57 in the prior session, the market ran into sellers again around the same price level today, failing to move higher than 211.61.

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


Market Conditions for ADS as at May 17, 2018

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ADS breaks below Friday's low

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