ARNC ends the day on a bullish note closing near the high of the day


Arconic Inc (ARNC) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
ARNC ends the day on a bullish note closing near the high of the day
ARNC runs into sellers again around 18.05
ARNC closes within previous day's range
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

ARNC finished Thursday at 18.00 gaining $0.03 (0.17%) on high volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for ARNC
Volatility

Thursday's trading range was $0.42 (2.33%), that's above last trading month's daily average range of $0.34. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bearish Outside Bar.

Support/Resistance

After having been unable to move above 18.04 in the prior session, the market ran into sellers again around the same price level today, failing to move higher than 18.05.

Trend

While the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 18.27 where further buy stops could get activated.

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 Arconic Inc
Condition Forecast Direction Win Avg Worst Best Events
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

ARNC pushes through prior session high

Aug 17, 2018
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