DUK dominated by bulls lifting the market higher throughout the day


Duke Energy Corporation (DUK) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team

Highlights

DUK rises to highest close ever
DUK dominated by bulls lifting the market higher throughout the day
DUK closes higher for the 4th day in a row
DUK pushes through Thursday's high

Overview

Moving higher for the 4th day in a row, DUK ended the week 5.22% higher at 101.30 after surging $1.19 (1.19%) today on high volume, strongly outperforming the S&P 500 (0.18%). Today's close at 101.30 marks the highest recorded closing price ever. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 100.39, the share confirmed its breakout through the prior session high after trading up to $1.38 above it intraday.

Daily Candlestick Chart (DUK as at Feb 14, 2020):

Daily technical analysis candlestick chart for Duke Energy Corporation (DUK) as at Feb 14, 2020

Friday's trading range has been $1.67 (1.67%), that's far above the last trading month's daily average range of $1.11. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for DUK.

One bullish candlestick pattern matches today's price action, the White Candle.

With another close above the upper Bollinger Band, prices are confirming their strong upward momentum in the short-term. A drop back into the Bollinger Band on the next trading day though could signal a potential change in momentum that might lead to a correction back down towards the center of the Bollinger Bands at 96.88.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close above the upper Bollinger Band" stand out. Although it is usually interpreted as bullish, it has actually shown to be bearish for Duke Energy. Out of 163 times, DUK closed lower 55.21% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after two trading days, showing a win rate of 49.08% with an average market move of -0.04%.


Market Conditions for DUK as at Feb 14, 2020

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