ALL breaks below prior session low


Allstate Corporation (ALL) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team

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

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 Candlestick Chart (ALL as at May 17, 2018):

Daily technical analysis candlestick chart for Allstate Corporation (ALL) as at May 17, 2018

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.

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

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

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


Market Conditions for ALL as at May 17, 2018

Loading Market Conditions for ALL (Allstate Corporation)...
Latest Report:

ALL finds buyers again around 78.86

Dec 17, 2018
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