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COL rises to highest close since March 26th


Technical Analysis Report for COL - May 17, 2018 [1 min read]
Highlights
COL rallies 0.67% closing $0.90 higher
COL pushes through key resistance level
COL dominated by bulls lifting the market higher throughout the day
COL pushes through 100-day moving average
COL ends the day on a bullish note closing near the high of the day
TQ Sentiment
Technical Forecast:
Overview

COL ended Thursday at 135.98 surging $0.90 (0.67%). This is the biggest single day gain in over a week. Today's closing price of 135.98 marks the highest close since March 26th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 135.62, Rockwell Collins confirms its breakout through the prior session's high having traded $0.49 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for COL
Volatility

Thursday's trading range was $1.11 (0.82%), that's slightly below last trading month's daily average range of $1.27. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar. Even with a weak opening the share managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

Breaking through the key resistance level at 135.35 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 136.65. After having been unable to move lower than 135.08 in the prior session, the stock found buyers again around the same price level today at 135.00.

Trend

The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. COL managed to break above the 100-day moving average at 135.55 today for the first time since March 26th.

Order Flow

Trading close to March's high at 138.04 we could see further upside momentum if potential buy stops at the level get activated.

Conclusion

While classical technical analysis indicates a very bullish sentiment for the next trading day, our quantitative statistics show a different picture being neutral.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Price broke through Technical Resistance R1 TQ Pro Members Only
Bullish Break through SMA 100 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
More market conditions identified for TQ Pro members...
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