BF-B breaks below previous session low


Brown-Forman Corp. (BF-B) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team

Highlights

BF-B finds support at 20-day moving average
BF-B breaks below previous session low
BF-B falls to lowest close since August 2nd
BF-B ends the day indecisive

Overview

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.

Daily Candlestick Chart (BF-B as at Aug 10, 2018):

Daily technical analysis candlestick chart for Brown-Forman Corp. (BF-B) as at Aug 10, 2018

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.


Market Conditions for BF-B as at Aug 10, 2018

Loading Market Conditions for BF-B (Brown-Forman Corp.)...
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BF-B stuck within tight trading range

Oct 19, 2018
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