CLGX dominated by bulls lifting the market higher throughout the day
CoreLogic Inc. (CLGX) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, CLGX finished Thursday at 34.52 gaining $2.43 (7.57%) on low volume, strongly outperforming the S&P 500 (6.24%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 33.64, the share confirmed its breakout through the prior session high after trading up to $1.09 above it intraday.
Daily Candlestick Chart (CLGX as at Mar 26, 2020):
Thursday's trading range has been $2.66 (8.17%), that's slightly below the last trading month's daily average range of $3.23. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently significantly higher than usual for CLGX.
One bullish candlestick pattern matches today's price action, the White Candle. The last time a White Candle showed up on Tuesday, CLGX gained 4.43% on the following trading day.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "3 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for CoreLogic. Out of 168 times, CLGX closed higher 56.55% 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 61.31% with an average market move of 0.95%.