CHD closes lower for the 2nd day in a row
Church & Dwight Company Inc. (CHD) Technical Analysis Report for Apr 16, 2019 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, CHD finished Tuesday at 73.57 losing $0.20 (-0.27%), slightly underperforming the S&P 500 (0.05%). Closing below Monday's low at 73.66, the market confirmed its breakout through the prior session low after trading up to $0.51 below it intraday.
Daily Candlestick Chart (CHD as at Apr 16, 2019):
Tuesday's trading range has been $0.99 (1.34%), that's slightly below the last trading month's daily average range of $1.13. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently significantly higher than usual for CHD.
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 nearby swing high at 74.49 where further buy stops might get activated.
Among the three market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Close to Swing High" stand out. Although it is usually interpreted as neutral, it has actually shown to be bullish for Church & Dwight. Out of 800 times, CHD closed higher 59.38% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 59.00% with an average market move of 0.52%.