AIZ finds buyers at key support level
Assurant Inc (AIZ) Technical Analysis Report for Aug 10, 2018
AIZ finished the week -1.72% lower at 106.28 after gaining $0.33 (0.31%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range.
Daily Candlestick Chart (AIZ as at Aug 10, 2018):
Friday's trading range was $3.03 (2.89%), that's far above last trading month's daily average range of $2.07. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly below average.
After trading as low as 104.15 during the day, the market bounced off the key support level at 104.33. The failure to close below the support could increase that levels importance as support going forward. Unable to break through the key technical resistance level at 106.50, Assurant Inc closed below it after spiking as high as 107.18 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
Though the share is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.