CHD rises to highest close since September 5, 2019


Church & Dwight Company Inc. (CHD) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team

Highlights

CHD rises to highest close since September 5, 2019
CHD dominated by bulls lifting the market higher throughout the day
CHD closes higher for the 3rd day in a row
CHD ends the day on a bullish note closing near the high of the day
CHD runs into sellers again around 76.46

Overview

Moving higher for the 3rd day in a row, CHD ended the week 2.6% higher at 76.43 after gaining $0.71 (0.94%) today on low volume, outperforming the S&P 500 (0.18%) ahead of tomorrow's Presidents' Day market holiday. Today's close at 76.43 marks the highest recorded closing price since September 5, 2019. The bulls were in full control today, moving the market higher throughout the whole session. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (CHD as at Feb 14, 2020):

Daily technical analysis candlestick chart for Church & Dwight Company Inc. (CHD) as at Feb 14, 2020

Friday's trading range has been $0.77 (1.01%), that's below the last trading month's daily average range of $1.25. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for CHD.

One bullish candlestick pattern matches today's price action, the White Candle.

After having been unable to move above 76.43 in the previous session, Church & Dwight ran into sellers again around the same price level today, failing to move higher than 76.46. The last time this happened on Wednesday, CHD actually gained 0.05% on the following trading day.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Buying might accelerate should prices move above the close-by swing high at 77.24 where further buy stops could get triggered. With prices trading close to this year's high at 77.24, upside momentum might speed up should the market be able to break out to new highs for the year.

Among the nine 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 808 times, CHD closed higher 59.53% 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 58.66% with an average market move of 0.45%.


Market Conditions for CHD as at Feb 14, 2020

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