AMP closes lower for the 2nd day in a row


Ameriprise Financial (AMP) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
AMP unable to break through key resistance level
AMP closes lower for the 2nd day in a row
AMP breaks below previous session low
AMP falls to lowest close since May 29th
AMP ends the day indecisive
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

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 chart for AMP
Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

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 Ameriprise Financial
Condition Forecast Direction Win Avg Worst Best Events
Southern Doji TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Low close to previous low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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