CTL finds support at 50-day moving average


CenturyLink Inc (CTL) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
CTL closes above its opening price after recovering from early selling pressure
CTL finds support at 50-day moving average
CTL ends the day on a bullish note closing near the high of the day
CTL pushes through previous session high
TQ Sentiment
Report Sentiment: 66% Bullish
Technical Forecast:
Overview

CTL ended Monday at 17.36 gaining $0.31 (1.82%) on low volume. Trading up to $0.23 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 17.35, the share confirms its breakout through the prior session's high having traded $0.08 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 CTL
Volatility

Monday's trading range was $0.42 (2.44%), that's slightly below last trading month's daily average range of $0.48. 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 17.01 during the day, the market found support at the 50-day moving average at 17.05.

Trend

CTL shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 17.80 where further buy stops could get activated. Selling might speed up should prices move below the close-by swing low at 16.93 where further sell stops could get triggered.

Conclusion

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

Market Conditions for CenturyLink Inc
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Black Candle TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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