CNX closes below its opening price unable to hold early session gains

CONSOL Energy Inc. (CNX) Technical Analysis Report for Sep 14, 2018

Highlights

CNX finds buyers around 14.56 for the third day in a row
CNX closes below its opening price unable to hold early session gains
CNX ends the day on a bearish note closing near the low of the day
CNX falls to lowest close since April 26th
CNX closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

CNX finished the week -2.14% lower at 14.60 after losing $0.10 (-0.68%) today. Today's closing price of 14.60 marks the lowest close since April 26th. Trading $0.17 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for CNX

Volatility

Friday's trading range was $0.28 (1.91%), that's below last trading month's daily average range of $0.40. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 14.54. The market found buyers again today around 14.56 for the third trading day in a row after having found demand at 14.58 in the previous session and at 14.62 two days ago.

Trend

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

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 CONSOL Energy Inc.

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Latest Report:

CNX finds buyers at key support level

Sep 21, 2018
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