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


Arconic Inc (ARNC) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team

Highlights

ARNC ends the day on a bullish note closing near the high of the day
ARNC closes within previous day's range

Overview

ARNC ended the week -1.98% lower at 20.81 after gaining $0.04 (0.19%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (ARNC as at Aug 10, 2018):

Daily technical analysis candlestick chart for Arconic Inc (ARNC) as at Aug 10, 2018

Friday's trading range was $0.40 (1.94%), that's slightly below last trading month's daily average range of $0.49. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.

Despite a weak opening the share managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Buying might speed up should prices move above the nearby swing high at 21.20 where further buy stops could get activated.


Market Conditions for ARNC as at Aug 10, 2018

Loading Market Conditions for ARNC (Arconic Inc)...
Latest Report:

ARNC finds buyers at key support level

Oct 19, 2018
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