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APD closes higher for the 2nd day in a row


Technical Analysis Report for APD - May 17, 2018 [1 min read]
Highlights
APD closes higher for the 2nd day in a row
APD finds buyers again around 165.73
APD rises to highest close since April 19th
APD still stuck within tight trading range
APD closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, APD ended Thursday at 166.77 gaining $0.23 (0.14%). Today's closing price of 166.77 marks the highest close since April 19th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for APD
Volatility

Thursday's trading range was $1.70 (1.03%), that's below last trading month's daily average range of $2.64. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 164.67 and 167.95 which it has been in now for the last trading week.

Price Action

In spite of a weak opening the market managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

Prices are trading close to the key resistance level at 167.81. After having been unable to move lower than 165.94 in the prior session, the share found buyers again around the same price level today at 165.73.

Trend

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

Order Flow

Buying could accelerate should prices move above the nearby swing high at 167.81 where further buy stops might get activated. Selling could speed up should prices move below the close-by swing low at 164.67 where further sell stops might get triggered. Further buying could move prices higher should the market test April's nearby high at 169.15.

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Low close to previous low TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bullish Engulfing Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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