CTL finds support at 50-day moving average
CenturyLink Inc. (CTL) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (CTL as at Apr 16, 2018):
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.
After trading as low as 17.01 during the day, the market found support at the 50-day moving average at 17.05.
CTL shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
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.