AET closes lower for the 2nd day in a row

Aetna Inc (AET) Technical Analysis Report for Sep 14, 2018

Highlights

AET closes below its opening price unable to hold early session gains
AET unable to break through key resistance level
AET closes lower for the 2nd day in a row
AET ends the day on a bearish note closing near the low of the day
AET finds buyers again around 202.75

TQ Sentiment

Report Sentiment: 57% Bearish
Technical Forecast:

Overview

Moving lower for the 2nd day in a row, AET finished the week -0.16% lower at 202.75 after edging lower $0.28 (-0.14%) today. Trading $0.52 higher after the open, Aetna Inc was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 203.03, the market confirms its breakout through the previous session's low having traded $0.28 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for AET

Volatility

Friday's trading range was $1.11 (0.55%), that's below last trading month's daily average range of $1.64. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

Unable to break through the key technical resistance level at 203.74, the stock closed below it after spiking as high as 203.86 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 lower than 203.03 in the prior session, the share found buyers again around the same price level today at 202.75.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the nearby swing high at 204.20 where further buy stops might get activated.

Conclusion

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

Market Conditions for Aetna Inc

Condition Forecast Direction Win Rate Exit Day Events
Strong Up Move TQ Pro Members Only
Bullish Outside Bar TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Low close to previous low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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