BBT dominated by bears dragging the market lower throughout the day


BB&T Corporation (BBT) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
BBT dominated by bears dragging the market lower throughout the day
BBT closes lower for the 4th day in a row
BBT breaks below previous session low
BBT falls to lowest close since July 5th
TQ Sentiment
Report Sentiment: 42% Bearish
Technical Forecast:
Overview

Moving lower for the 4th day in a row, BBT ended the week -0.55% lower at 50.93 after losing $0.62 (-1.2%) today. Today's closing price of 50.93 marks the lowest close since July 5th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 51.19, the share confirms its breakout through the prior session's low having traded $0.45 below it intraday.

Daily chart for BBT
Volatility

Friday's trading range was $0.74 (1.44%), that's below last trading month's daily average range of $0.90. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.

Support/Resistance

Prices are trading close to a key support level at 50.37. Prices are trading close to the key resistance level at 51.64.

Trend

Though BB&T Corporation 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

Selling might accelerate should prices move below the nearby swing low at 50.37 where further sell stops could get triggered. With prices trading close to this year's low at 49.65, downside momentum might speed up should the market break out to new lows for the year. As prices are trading close to July's low at 50.15, downside momentum could accelerate should the stock mark new lows for the month.

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 BB&T Corporation
ConditionForecastDirectionWinAvgWorstBestEvents
Black Candle TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when BB&T Corporation traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

GBPUSD 1.31350.0120 0.92%
GOLD 1,231.99.4 0.77%
HSI 28,224.48213.62 0.76%
EURUSD 1.17230.0081 0.70%
ASX 6,285.9023.20 0.37%
INDU 25,058.12-6.38 -0.03%
NDX 7,350.23-2.13 -0.03%
FTSE 7,678.79-5.21 -0.07%
NATGAS 2.733-0.002 -0.07%
SPX 2,801.83-2.66 -0.09%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV88.91 -1.04
-1.16%
ACN 10 day candlestick chart for ACN166.52 -0.37
-0.22%
ADBE 10 day candlestick chart for ADBE257.54 -0.14
-0.05%
AAP 10 day candlestick chart for AAP142.67 -0.70
-0.49%
AES 10 day candlestick chart for AES13.03 0.00
0.00%
AET 10 day candlestick chart for AET187.22 -2.82
-1.48%
AFL 10 day candlestick chart for AFL43.06 0.17
0.40%
AMG 10 day candlestick chart for AMG148.84 -0.47
-0.31%
A 10 day candlestick chart for A63.85 -0.30
-0.47%
ABT 10 day candlestick chart for ABT63.32 -0.46
-0.72%