BHF pushes through 50-day moving average
Brighthouse Financial Inc (BHF) Technical Analysis Report for Sep 14, 2018
Moving higher for the 2nd day in a row, BHF finished the week 4.56% higher at 41.97 after surging $1.18 (2.89%) today. This is the biggest single day gain in over a month. Today's closing price of 41.97 marks the highest close since August 29th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 41.16, the market confirms its breakout through the previous session's high having traded $0.82 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was $1.01 (2.47%), that's slightly above last trading month's daily average range of $0.92. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being exactly the same as average.
Breaking through the key resistance level at 41.84 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 42.63.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already. The stock managed to break above the 50-day moving average at 41.72 today for the first time since August 28th.
While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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