AHC closes higher for the 3rd day in a row


A.H. Belo Corporation (AHC) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team

Highlights

AHC closes higher for the 3rd day in a row
AHC runs into sellers again around 1.75
AHC stuck within tight trading range
AHC closes within previous day's range after lackluster session

Overview

Moving higher for the 3rd day in a row, AHC ended Thursday at 1.73 gaining $0.05 (2.98%), significantly underperforming the S&P 500 (6.24%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session.

Daily Candlestick Chart (AHC as at Mar 26, 2020):

Daily technical analysis candlestick chart for A.H. Belo Corporation (AHC) as at Mar 26, 2020

Thursday's trading range has been $0.05 (2.86%), that's far below the last trading month's daily average range of $0.14. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for AHC. Prices continued to consolidate within a tight trading range between 1.55 and 1.75 where it has been caught now for the last three trading days.

After having been unable to move above 1.74 in the previous session, A. H. Belo ran into sellers again around the same price level today, missing to move higher than 1.75.

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

Among the three market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "RSI(2) above 80" stand out. Its common bearish interpretation has been confirmed for A. H. Belo. Out of 243 times, AHC closed lower 55.14% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after 10 trading days, showing a win rate of 54.32% with an average market move of -0.67%.


Market Conditions for AHC as at Mar 26, 2020

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