AIZ pushes through key resistance level
Moving higher for the 3rd day in a row, AIZ ended Thursday at 94.29 gaining $0.35 (0.37%) on high volume. Today's closing price of 94.29 marks the highest close since January 29th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Thursday's trading range was $1.88 (2.0%), that's slightly below last trading month's daily average range of $1.92. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being above average.
Breaking through the key resistance level at 94.21 today, it is now likely to act as support going forward. After spiking up to 95.47 during the day, the stock found resistance at the 200-day moving average at 94.88.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
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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