ALL breaks below prior session low


Allstate Corp (ALL) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
ALL breaks key support level
ALL closes lower for the 2nd day in a row
ALL breaks below previous session low
ALL falls to lowest close since May 4th
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, ALL ended Thursday at 95.00 losing $0.62 (-0.65%). Today's closing price of 95.00 marks the lowest close since May 4th. Closing below Wednesday's low at 95.20, the share confirms its breakout through the prior session's low having traded $0.36 below it intraday.

Daily chart for ALL
Volatility

Thursday's trading range was $0.69 (0.72%), that's below last trading month's daily average range of $1.62. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking below the key support level at 95.09 today, it is now likely to act as resistance going forward.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying could speed up should prices move above the nearby swing high at 96.36 where further buy stops might get triggered.

Conclusion

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

Market Conditions for Allstate Corp
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 50 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bearish Hikkake Pattern TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

ALL finds buyers at key support level

Jul 16, 2018
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