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CB still stuck within tight trading range


Technical Analysis Report for CB - Apr 16, 2018 [1 min read]
Highlights
CB fails to close above 20-day moving average
CB rises to highest close since April 4th
CB still stuck within tight trading range
CB closes within previous day's range
CB ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

CB ended Monday at 135.79 gaining $1.79 (1.34%). Today's closing price of 135.79 marks the highest close since April 4th. Closing within the prior day's range, prices failed to decisively move beyond 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 chart for CB
Volatility

Monday's trading range was $2.38 (1.76%), that's slightly below last trading month's daily average range of $2.65. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 133.39 and 136.79 which it has been in now for the last trading week.

Price Action

After moving lower in the prior session, the stock managed to close higher but below the previous day's open, forming a bullish Harami Candle.

Support/Resistance

After spiking up to 136.79 during the day, the share found resistance at the 20-day moving average at 136.01.

Trend

Although Chubb Corp. is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying could speed up should prices move above the nearby swing high at 137.15 where further buy stops might get activated. Selling could accelerate should prices move below the close-by swing low at 133.39 where further sell stops might get triggered. With prices trading close to this year's low at 131.14, downside momentum could speed up should the market break out to new lows for the year. As prices are trading close to April's high at 137.15, upside momentum might accelerate should CB mark new highs for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bearish Bounce off SMA 20 TQ Pro Members Only
Bullish Harami Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
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