AMP closes lower for the 2nd day in a row
Ameriprise Financial (AMP) Technical Analysis Report for Aug 10, 2018
Moving lower for the 2nd day in a row, AMP finished the week -2.66% lower at 137.12 after losing $2.54 (-1.82%) today. Today's closing price of 137.12 marks the lowest close since May 29th. Closing below Thursday's low at 139.53, the market confirms its breakout through the previous session's low having traded $5.36 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (AMP as at Aug 10, 2018):
Friday's trading range was $3.77 (2.74%), that's above last trading month's daily average range of $2.93. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being above average.
Unable to break through the key technical resistance level at 137.85, the share closed below it after spiking as high as 137.94 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.