AJG ends the day indecisive

Arthur J. Gallagher & Co. (AJG) Technical Analysis Report for Apr 16, 2018

Highlights

AJG pushes through 50-day moving average
AJG pushes through previous session high
AJG rises to highest close since March 21st
AJG ends the day indecisive

TQ Sentiment

Report Sentiment: 50% Bullish
Technical Forecast:

Overview

AJG ended Monday at 69.28 gaining $0.83 (1.21%) on low volume. Today's closing price of 69.28 marks the highest close since March 21st. Closing above Friday's high at 69.23, Arthur J. confirms its breakout through the prior session's high having traded $0.65 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for AJG

Volatility

Monday's trading range was $1.03 (1.49%), that's slightly below last trading month's daily average range of $1.29. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 68.83. Prices are trading close to the key resistance level at 70.07.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The share managed to break above the 50-day moving average at 68.49 today for the first time since April 12th.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Arthur J. Gallagher & Co.

Condition Forecast Direction Win Rate Exit Day Events
3 Consecutive Higher Closes TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
52 Week High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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