AMN rallies, gaining $1.99 (4.57%) within a single day


AMN Healthcare Services Inc (AMN) Technical Analysis Report for Jul 13, 2020 | by Techniquant Editorial Team

Highlights

AMN soars, gaining $1.99 (4.57%) within a single day
AMN breaks back above 50-day moving average
AMN closes higher for the 2nd day in a row

Overview

Moving higher for the 2nd day in a row, AMN finished Monday at 45.57 surging $1.99 (4.57%), strongly outperforming the S&P 500 (-0.94%). This is the biggest single-day gain in over a month.

Daily Candlestick Chart (AMN as at Jul 13, 2020):

Daily technical analysis candlestick chart for AMN Healthcare Services Inc (AMN) as at Jul 13, 2020

Monday's trading range has been $3.02 (6.86%), that's far above the last trading month's daily average range of $1.90. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for AMN.

One bullish candlestick pattern matches today's price action, the White Candle. The last time a White Candle showed up on July 10th, AMN gained 4.57% on the following trading day.

AMN Healthcare managed to close back above the 50-day moving average at 44.57 for the first time since June 30th.

While the share is experiencing a short-term uptrend, this could just be a correction, as both the medium and long-term trends are still bearish.

Among the eight market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bounced off Technical Support S1" stand out. Its common bullish interpretation has been confirmed for AMN Healthcare. Out of 441 times, AMN closed higher 54.20% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 65.31% with an average market move of 1.69%.


Market Conditions for AMN as at Jul 13, 2020

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