AET ends the day indecisive


Technical Analysis Report for AET - May 17, 2018 [1 min read]
Highlights
Traders officially love to sell AET against 178.06 level
AET closes below its opening price unable to hold early session gains
AET fails to close above 100-day moving average
AET stuck within tight trading range
AET closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

AET ended Thursday at 177.03 losing $0.44 (-0.25%). Trading $0.59 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for AET
Volatility

Thursday's trading range was $1.34 (0.76%), that's below last trading month's daily average range of $2.30. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 176.68 and 178.06 which it has been in now for the last three days.

Support/Resistance

Prices are trading close to a key support level at 175.61. Prices are trading close to the key resistance level at 178.12. The market was sold again around 178.06 after having seen highs at 177.95, 177.87 and 177.90 in the last three trading sessions. Obviously there is something going on at that level. After spiking up to 178.06 during the day, Aetna Inc found resistance at the 100-day moving average at 177.98.

Trend

While the stock is experiencing a short-term up trend, this might 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 bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bearish Bounce off SMA 100 TQ Pro Members Only
High close to previous three Highs TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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