ANTM pushes through 20-day moving average


Anthem Inc. (ANTM) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
ANTM closes above its opening price after recovering from early selling pressure
ANTM pushes through 20-day moving average
ANTM finds support at 20-day moving average
ANTM closes higher for the 3rd day in a row
ANTM pushes through previous session high
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, ANTM finished Monday at 225.27 gaining $3.25 (1.46%) on low volume. Today's closing price of 225.27 marks the highest close since April 5th. Trading up to $1.50 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 223.67, Anthem Inc. confirms its breakout through the prior session's high having traded $2.97 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for ANTM
Volatility

Monday's trading range was $4.30 (1.92%), that's slightly below last trading month's daily average range of $4.68. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to the key resistance level at 227.70. After trading as low as 222.34 during the day, the market found support at the 20-day moving average at 223.38.

Trend

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. ANTM managed to break above the 20-day moving average at 223.38 today for the first time since April 10th.

Order Flow

With prices trading close to this year's low at 215.52, downside momentum could speed up should the share break out to new lows for the year. As prices are trading close to April's high at 231.31, upside momentum might accelerate should Anthem Inc. mark new highs for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Anthem Inc.
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Intraday Reversal 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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