EIX closes within prior day's range after lackluster session
Edison Int'l (EIX) Technical Analysis Report for Sep 14, 2018
EIX ended the week 2.51% higher at 68.33 after edging lower $0.08 (-0.12%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $0.62 (0.91%), that's far below last trading month's daily average range of $1.05. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
Prices are trading close to a key support level at 67.75. After having been unable to move above 68.44 in the previous session, Edison Int'l ran into sellers again around the same price level today, failing to move higher than 68.40.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the close-by swing high at 68.44 where further buy stops could get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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