BR closes within previous day's range
Broadridge Financial Solutions Inc.Common Stock (BR) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
BR finished the week 12.51% higher at 129.37 after losing $0.36 (-0.28%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (BR as at Aug 10, 2018):
Friday's trading range was $1.82 (1.41%), that's slightly below last trading month's daily average range of $2.41. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being way above average. Prices continued to consolidate within a tight trading range between 128.50 and 131.21 which it has been in now for the last three days.
Prices are trading close to the key resistance level at 131.21. Broadridge Financial ran into sellers again today around 130.78 for the third trading day in a row after having found sellers at 131.21 in the prior session and at 130.84 two days ago.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the nearby swing high at 131.21 where further buy stops could get activated.