CMA closes within previous day's range

Comerica Inc. (CMA) Technical Analysis Report for Sep 14, 2018

Highlights

CMA closes within previous day's range
CMA ends the day indecisive

TQ Sentiment

Report Sentiment: 20% Bullish
Technical Forecast:

Overview

CMA finished the week -4.2% lower at 93.19 after gaining $0.18 (0.19%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CMA

Volatility

Friday's trading range was $1.10 (1.18%), that's slightly below last trading month's daily average range of $1.35. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being way above average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 92.44.

Trend

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

Order Flow

Selling might speed up should prices move below the close-by swing low at 92.48 where further sell 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 very bullish.

Market Conditions for Comerica Inc.

Condition Forecast Direction Win Rate Exit Day Events
Closed below last periods low TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Hikkake Pattern TQ Pro Members Only
More market conditions identified for TQ Pro members...
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