AET pushes through key resistance level


Aetna Inc (AET) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
AET rallies 1.71% closing $2.96 higher
AET pushes through key resistance level
AET pushes through 50-day moving average
AET pushes through previous session high
AET rises to highest close since March 14th
TQ Sentiment
Report Sentiment: 66% Bullish
Technical Forecast:
Overview

AET ended Monday at 175.89 surging $2.96 (1.71%). This is the biggest single day gain in over four months. Today's closing price of 175.89 marks the highest close since March 14th. Closing above Friday's high at 174.13, the stock confirms its breakout through the prior session's high having traded $3.47 above it intraday.

Daily chart for AET
Volatility

Monday's trading range was $4.22 (2.43%), that's far above last trading month's daily average range of $2.47. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking through the key resistance level at 175.06 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 177.88.

Trend

Aetna Inc shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The market managed to break above the 50-day moving average at 174.42 today for the first time since October 18, 2017.

Order Flow

Further buying might move prices higher should the market test March's nearby high at 178.40.

Conclusion

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

Market Conditions for Aetna Inc
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Black Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

AET crashes -1.48% on high volume

Jul 20, 2018
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