BF-B still stuck within tight trading range


Brown-Forman Corp. (BF-B) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
BF-B finds buyers at key support level
BF-B closes higher for the 2nd day in a row
BF-B pushes through previous session high
BF-B rises to highest close since Inception
BF-B still stuck within tight trading range
TQ Sentiment
Report Sentiment: 28% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, BF-B finished Monday at 55.90 gaining $0.47 (0.85%). Today's closing price of 55.90 marks the highest close since Inception. Closing above Friday's high at 55.71, the market confirms its breakout through the prior session's high having traded $0.49 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for BF-B
Volatility

Monday's trading range was $0.74 (1.32%), that's far below last trading month's daily average range of $1.16. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 54.89 and 56.20 which it has been in now for the last trading week.

Support/Resistance

After trading as low as 55.46 during the day, Brown-Forman Corp. bounced off the key support level at 55.64. The failure to close below the support might increase that levels importance as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 54.99 where further sell stops might get activated.

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 Brown-Forman Corp.
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Break through SMA 200 TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High 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
Latest Report:

BF-B finds buyers again around 51.62

Jul 18, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Brown-Forman Corp. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

CRUDE 67.931.25 1.87%
DAX 12,765.94104.40 0.82%
FTSE 7,676.2849.98 0.66%
BTCUSD 7,385.8446.70 0.64%
CAC 5,447.4424.90 0.46%
GOLD 1,227.3-0.1 -0.01%
USDJPY 112.84-0.04 -0.04%
NKY 22,764.68-29.51 -0.13%
NDX 7,390.13-13.76 -0.19%
TBOND 144.812-0.282 -0.19%
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 ABBV94.40 -1.01
-1.06%
ACN 10 day candlestick chart for ACN166.38 -1.69
-1.01%
ADBE 10 day candlestick chart for ADBE259.78 1.47
0.57%
AAP 10 day candlestick chart for AAP139.97 -0.31
-0.22%
AES 10 day candlestick chart for AES12.73 -0.12
-0.93%
AET 10 day candlestick chart for AET191.33 -0.21
-0.11%
AFL 10 day candlestick chart for AFL43.26 0.32
0.75%
AMG 10 day candlestick chart for AMG151.25 2.76
1.86%
A 10 day candlestick chart for A62.99 -0.05
-0.08%
ABT 10 day candlestick chart for ABT64.75 1.95
3.11%