CPB closes higher for the 2nd day in a row
Campbell Soup Company (CPB) Technical Analysis Report for Mar 27, 2020 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, CPB finished the week -2.45% lower at 44.19 after gaining $0.60 (1.38%) today, significantly outperforming the S&P 500 (-3.37%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.
Daily Candlestick Chart (CPB as at Mar 27, 2020):
Friday's trading range has been $2.55 (5.93%), that's below the last trading month's daily average range of $3.40. Weekly volatility is also lower, being way below the market's average weekly trading range. The longer-term, monthly volatility is currently notably higher than usual for CPB. Prices continued to consolidate within a tight trading range between 40.70 and 45.56 where it has been caught now for the whole last trading week.
Prices are trading close to the key technical support level at 43.35 (S1). Prices are trading close to the key technical resistance level at 46.15 (R1).
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.