CINF closes lower for the 2nd day in a row


Cincinnati Financial (CINF) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
CINF finds buyers at key support level
CINF closes lower for the 2nd day in a row
CINF breaks below previous session low
CINF falls to lowest close since July 26th
CINF ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, CINF finished the week -1.52% lower at 74.39 after losing $0.61 (-0.81%) today. Today's closing price of 74.39 marks the lowest close since July 26th. Closing below Thursday's low at 74.85, the stock confirms its breakout through the previous session's low having traded $0.96 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CINF
Volatility

Friday's trading range was $0.68 (0.91%), that's below last trading month's daily average range of $1.12. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Support/Resistance

After trading as low as 73.89 during the day, Cincinnati Financial bounced off the key support level at 74.28. The failure to close below the support could increase that levels importance as support going forward.

Trend

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 75.50 where further buy stops could get activated.

Conclusion

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 Cincinnati Financial
Condition Forecast Direction Win Avg Worst Best Events
White Candle TQ Pro Members Only
Gap Up TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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