AR closes within prior day's range after lackluster session

Antero Resources Corp (AR) Technical Analysis Report for Sep 14, 2018

Highlights

AR finds buyers at key support level
AR closes higher for the 6th day in a row
AR runs into sellers again around 18.78
AR rises to highest close since August 30th
AR closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

Moving higher for the 6th day in a row, AR ended the week 8.32% higher at 18.61 after gaining $0.08 (0.43%) today. Today's closing price of 18.61 marks the highest close since August 30th. Closing within the prior day's range, prices failed to decisively move beyond the previous 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 AR

Volatility

Friday's trading range was $0.27 (1.45%), that's far below last trading month's daily average range of $0.44. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being below average.

Support/Resistance

After trading as low as 18.51 during the day, the market bounced off the key support level at 18.53. The failure to close below the support could increase that levels importance as support going forward. After having been unable to move above 18.73 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 18.78.

Trend

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

Order Flow

Buying might accelerate should prices move above the close-by swing high at 18.94 where further buy stops could get triggered.

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 Antero Resources Corp

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