CF closes higher for the 6th day in a row
CF Industries Holdings Inc (CF) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
Moving higher for the 6th day in a row, CF ended Monday at 38.45 edging higher $0.02 (0.05%) on low volume. Today's closing price of 38.45 marks the highest close since April 5th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.
Daily Candlestick Chart (CF as at Apr 16, 2018):
Monday's trading range was $0.50 (1.29%), that's far below last trading month's daily average range of $1.13. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.
Prices are trading close to a key support level at 38.01.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Buying could accelerate should prices move above the nearby swing high at 38.89 where further buy stops might get activated. As prices are trading close to April's high at 38.89, upside momentum could speed up should the share mark new highs for the month.