ANDV finds buyers around 149.34 for the third day in a row


Andeavor (ANDV) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
ANDV finds buyers around 149.34 for the third day in a row
ANDV stuck within tight trading range
ANDV closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

ANDV ended the week 2.07% higher at 150.23 after gaining $0.31 (0.21%) today. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily chart for ANDV
Volatility

Friday's trading range was $1.37 (0.92%), that's below last trading month's daily average range of $2.57. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 149.30 and 152.20 which it has been in now for the last three days.

Support/Resistance

Prices are trading close to the key resistance level at 151.89. The market found buyers again today around 149.34 for the third trading day in a row after having found demand at 149.59 in the previous session and at 149.30 two days ago.

Trend

Though the stock is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 152.20 where further buy stops might get activated. With prices trading close to this year's high at 152.97, upside momentum could speed up should Andeavor be able to break out to new highs for the year.

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 Andeavor
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
Strong Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

ANDV tumbles -2.51% closing $3.74 lower

Aug 15, 2018
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