BF-B breaks below previous session low
BF-B ended the week -1.37% lower at 53.25 after losing $0.38 (-0.71%) today. Today's closing price of 53.25 marks the lowest close since August 2nd. Closing below Thursday's low at 53.35, the market confirms its breakout through the previous session's low having traded $0.31 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $0.61 (1.14%), that's below last trading month's daily average range of $0.91. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.
Prices are trading close to a key support level at 52.89. After trading as low as 53.04 during the day, Brown-Forman Corp. found support at the 20-day moving average at 53.11.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying might accelerate should prices move above the close-by swing high at 53.85 where further buy stops could get triggered. Selling might speed up should prices move below the nearby swing low at 52.81 where further sell stops could 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 Brown-Forman Corp.
|Down Close Near Low of Period||TQ Pro Members Only|
|2 Consecutive Lower Closes||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Bearish Break through SMA 200||TQ Pro Members Only|
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