ATH finds buyers around 48.93 for the third day in a row
Moving higher for the 2nd day in a row, ATH ended the week 0.75% higher at 49.60 after gaining $0.29 (0.59%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range.
Friday's trading range was $1.07 (2.17%), that's far above last trading month's daily average range of $0.86. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average. Prices continued to consolidate within a tight trading range between 48.90 and 50.06 which it has been in now for the last trading week.
Prices are trading close to a key support level at 48.90. The market found buyers again today around 48.93 for the third trading day in a row after having found demand at 48.90 in the previous session and at 48.99 two days ago.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Selling could accelerate should prices move below the nearby swing low at 48.90 where further sell stops might get activated.
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 Athene Holding Ltd
|Close to R1 Resistance||TQ Pro Members Only|
|Bounced off Technical Resistance R1||TQ Pro Members Only|
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