ADS closes within prior day's range after lackluster session


Alliance Data Systems (ADS) Technical Analysis Report for May 17, 2018 [< 1 min read]
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
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
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 chart for ADS
Volatility

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.

Support/Resistance

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.

Trend

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.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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