APH finds support at 20-day moving average


Amphenol Corp A (APH) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
APH closes above its opening price after recovering from early selling pressure
APH pushes through 20-day moving average
APH finds support at 20-day moving average
APH runs into sellers again around 86.81
APH rises to highest close since March 26th
TQ Sentiment
Report Sentiment: 44% Bullish
Technical Forecast:
Overview

APH finished Monday at 86.47 gaining $0.86 (1.0%) on low volume. Today's closing price of 86.47 marks the highest close since March 26th. Trading up to $0.55 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for APH
Volatility

Monday's trading range was $1.06 (1.23%), that's far below last trading month's daily average range of $1.89. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 84.55 and 86.81 which it has been in now for the last trading week.

Price Action

After moving lower in the previous session, the stock managed to close higher but below the prior day's open, forming a bullish Harami Candle.

Support/Resistance

After having been unable to move above 86.67 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 86.81. After trading as low as 85.75 during the day, APH found support at the 20-day moving average at 86.24.

Trend

Although the market is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory. The stock managed to break above the 20-day moving average at 86.24 today for the first time since March 2nd.

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 Amphenol Corp A
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Black Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bearish Short Candle TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

APH finds buyers at key support level

Jul 13, 2018
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