APRIL SALE: Save over 60% on our Pro Plans!

CPB finds buyers at key support level


Technical Analysis Report for CPB - Apr 16, 2018 [1 min read]
Highlights
CPB finds buyers at key support level
CPB pushes through 20-day moving average
CPB unable to break through key resistance level
CPB pushes through previous session high
CPB ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

CPB finished Monday at 42.81 gaining $0.36 (0.85%) on low volume. Closing above Friday's high at 42.61, the market confirms its breakout through the previous session's high having traded $0.69 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CPB
Volatility

Monday's trading range was $1.20 (2.82%), that's above last trading month's daily average range of $1.01. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 42.10 during the day, the share bounced off the key support level at 42.17. The failure to close below the support might increase that levels importance as support going forward. Unable to break through the key technical resistance level at 43.00, Campbell closed below it after spiking as high as 43.30 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

While the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory. CPB managed to break above the 20-day moving average at 42.58 today for the first time since April 11th.

Order Flow

Buying could speed up should prices move above the nearby swing high at 43.85 where further buy stops might get triggered. Further buying could move prices higher should the market test March's close-by high at 44.28.

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Resistance R1 TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Campbell Soup traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

DAX 12,500.4778.17 0.63%
FTSE 7,421.4342.13 0.57%
USDJPY 109.430.61 0.56%
NKY 22,319.61104.29 0.47%
DXY 90.9550.415 0.46%
GBPUSD 1.3932-0.0045 -0.32%
TBOND 141.750-0.594 -0.42%
GOLD 1,324.4-7.8 -0.59%
EURUSD 1.2161-0.0072 -0.59%
HSI 30,007.68-628.56 -2.05%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.