CBSH stuck within tight trading range
CBSH finished the week 1.51% higher at 69.42 after edging higher $0.01 (0.01%) today. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.
Friday's trading range was $1.04 (1.51%), that's slightly below last trading month's daily average range of $1.09. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average. Prices continued to consolidate within a tight trading range between 68.63 and 70.00 which it has been in now for the last three days.
Prices are trading close to a key support level at 69.09. Prices are trading close to the key resistance level at 69.93.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the close-by swing high at 70.00 where further buy stops might get activated.
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 Commerce Bancshares
|Close to R1 Resistance||TQ Pro Members Only|
|Strong Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
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