CTL pushes through Tuesday's high
CenturyLink Inc. (CTL) Technical Analysis Report for Feb 13, 2019 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, CTL ended Wednesday at 14.70 gaining $0.15 (1.03%), outperforming the S&P 500 (0.3%). Closing above Tuesday's high at 14.60, the share confirmed its breakout through the previous session high after trading up to $0.14 above it intraday.
Daily Candlestick Chart (CTL as at Feb 13, 2019):
Wednesday's trading range has been $0.26 (1.79%), that's far below the last trading month's daily average range of $0.48. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for CTL.
Two candlestick patterns are matching today's price action, the Bullish Short Candle and the White Candle which are both known as bullish patterns.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Among the six market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bullish Short Candle" stand out. Its common bullish interpretation has been confirmed for CenturyLink. Out of 88 times, CTL closed higher 56.82% of the time on the next trading day after the market condition occurred.