AET pushes through key resistance level
Aetna Inc (AET) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (AET as at Apr 16, 2018):
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.
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.
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.
Further buying might move prices higher should the market test March's nearby high at 178.40.