CMA closes within previous day's range
Comerica Inc. (CMA) Technical Analysis Report for Sep 14, 2018
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.
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.
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.
Prices are trading close to a key support level at 92.44.
The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.
Selling might speed up should prices move below the close-by swing low at 92.48 where further sell stops could get activated.
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||Direction||Win Rate||Win Rate||Exit Day||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|
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