BF-B closes higher for the 5th day in a row
Brown Forman Inc Class B (BF-B) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team
Moving higher for the 5th day in a row, BF-B finished the week 3.78% higher at 71.40 after gaining $0.19 (0.27%) today on low volume, slightly outperforming the S&P 500 (0.18%) ahead of tomorrow's Presidents' Day market holiday. Today's close at 71.40 marks the highest recorded closing price since January 24th. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session.
Daily Candlestick Chart (BF-B as at Feb 14, 2020):
Friday's trading range has been $0.79 (1.11%), that's below the last trading month's daily average range of $1.09. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for BF-B.
Prices are trading close to the key technical resistance level at 72.00 (R1).
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 72.85, upside momentum might speed up should the market be able to break out to new highs for the year.