ADS closes within prior day's range after lackluster session
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.
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.
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 Alliance Data Systems
|Bearish Break through SMA 50||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
|Bounced off Technical Resistance R1||TQ Pro Members Only|
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