AFL stuck within tight trading range
AFLAC Inc (AFL) Technical Analysis Report for Apr 16, 2018
AFL finished Monday at 44.77 gaining $0.21 (0.47%). Today's closing price of 44.77 marks the highest close since March 21st. Trading $0.23 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 prior day's range, prices failed to decisively move past the previous 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.
Monday's trading range was $0.43 (0.96%), that's far below last trading month's daily average range of $0.81. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 44.41 and 45.12 which it has been in now for the last three days.
Prices are trading close to a key support level at 44.31. After having been unable to move above 45.07 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 45.12.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling might accelerate should prices move below the close-by swing low at 44.41 where further sell stops could get triggered. With prices trading close to this year's high at 45.88, upside momentum might speed up should AFLAC Inc be able to break out to new highs for the year.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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