AMN closes below its opening price unable to hold early session gains
Amn Healthcare Services Inc (AMN) Technical Analysis Report for Sep 14, 2018
AMN ended the week -5.91% lower at 52.55 after losing $1.30 (-2.41%) today on high volume. Trading $0.95 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.
Friday's trading range was $2.45 (4.55%), that's far above last trading month's daily average range of $1.44. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 51.80.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling could speed up should prices move below the nearby swing low at 51.80 where further sell stops might get activated. Further selling could move prices lower should the market test August's close-by low at 50.82.
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 Amn Healthcare Services Inc
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|2 Consecutive Lower Closes||TQ Pro Members Only|
|Close near low of period||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Down Close Near Low of Period||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
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