CB falls to lowest close since May 8th


Chubb Corp. (CB) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
CB finds buyers around 133.93 for the third day in a row
CB fails to close above 20-day moving average
CB falls to lowest close since May 8th
CB closes within previous day's range after lackluster session
CB ends the day indecisive
TQ Sentiment
Report Sentiment: 25% Bullish
Technical Forecast:
Overview

CB ended Thursday at 134.45 edging lower $0.12 (-0.09%). Today's closing price of 134.45 marks the lowest close since May 8th. Closing within the prior day's range, prices failed to decisively move beyond the previous 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 CB
Volatility

Thursday's trading range was $1.12 (0.83%), that's far below last trading month's daily average range of $2.19. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 133.82. The market found buyers again today around 133.93 for the third trading day in a row after having found demand at 133.82 in the previous session and at 134.00 two days ago. After spiking up to 135.05 during the day, the stock found resistance at the 20-day moving average at 135.04.

Trend

While the share 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

Selling could speed up should prices move below the nearby swing low at 133.82 where further sell stops might get triggered.

Conclusion

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

Market Conditions for Chubb Corp.
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
White Candle TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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