BLL closes higher for the 6th day in a row


Ball Corp (BLL) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
BLL closes above its opening price after recovering from early selling pressure
BLL closes higher for the 6th day in a row
BLL finds buyers again around 40.48
BLL rises to highest close since March 15th
BLL closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 42% Bullish
Technical Forecast:
Overview

Moving higher for the 6th day in a row, BLL ended Monday at 40.76 gaining $0.12 (0.3%) on low volume. Today's closing price of 40.76 marks the highest close since March 15th. Trading up to $0.27 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for BLL
Volatility

Monday's trading range was $0.42 (1.03%), that's far below last trading month's daily average range of $0.71. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar.

Support/Resistance

After having been unable to move lower than 40.49 in the previous session, the stock found buyers again around the same price level today at 40.48.

Trend

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

Order Flow

With prices trading close to this year's high at 41.99, upside momentum might accelerate should the share be able to break out to new highs for the year.

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 Ball Corp
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Black Candle TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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