BBT dominated by bears dragging the market lower throughout the day

BB&T Corporation (BBT) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


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


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 Candlestick Chart (BBT as at Jul 13, 2018):

Daily technical analysis candlestick chart for BB&T Corporation (BBT) as at Jul 13, 2018

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.

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

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.

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.

Market Conditions for BBT as at Jul 13, 2018

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