CMPR closes lower for the 2nd day in a row


Cimpress N.V (CMPR) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team

Highlights

CMPR closes lower for the 2nd day in a row
CMPR closes within previous day's range after lackluster session

Overview

Moving lower for the 2nd day in a row, CMPR finished Thursday at 63.55 losing $3.48 (-5.19%), notably underperforming the S&P 500 (6.24%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily Candlestick Chart (CMPR as at Mar 26, 2020):

Daily technical analysis candlestick chart for Cimpress N.V (CMPR) as at Mar 26, 2020

Thursday's trading range has been $6.87 (10.86%), that's below the last trading month's daily average range of $9.56. Things look different on the weekly timeframe, where the market's trading range of the last week has been way above the market's average weekly trading range. The longer-term, monthly volatility is currently strongly higher than usual for CMPR.

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. Additionally, one neutral candlestick pattern matches today's price action, the Doji.

Prices are trading close to the key technical resistance level at 72.20 (R1).

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

Among the two market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "2 Consecutive Lower Closes" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for Cimpress N. V. Out of 285 times, CMPR closed higher 51.23% 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 56.14% with an average market move of 0.16%.


Market Conditions for CMPR as at Mar 26, 2020

Loading Market Conditions for CMPR (Cimpress N.V)...
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