AET pushes through key resistance level
Aetna Inc (AET) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, AET ended the week 3.07% higher at 194.52 after gaining $0.74 (0.38%) today. Today's closing price of 194.52 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (AET as at Aug 10, 2018):
Friday's trading range was $1.37 (0.71%), that's below last trading month's daily average range of $1.92. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 194.00 today, it is now likely to act as support going forward. The share ran into sellers again today around 194.57 for the third trading day in a row after having found sellers at 194.88 in the prior session and at 194.84 two days ago.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the close-by swing high at 194.88 where further buy stops could get activated.