EIX pushes through 100-day moving average

Edison Int'l (EIX) Technical Analysis Report for Apr 16, 2018

Highlights

EIX rallies 1.59% closing $1.01 higher
EIX pushes through key resistance level
EIX pushes through 100-day moving average
EIX closes higher for the 2nd day in a row
EIX ends the day on a bullish note closing near the high of the day

TQ Sentiment

Report Sentiment: 71% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, EIX finished Monday at 64.45 surging $1.01 (1.59%). This is the biggest single day gain in over two weeks. Today's closing price of 64.45 marks the highest close since March 16th. Closing above Friday's high at 63.80, the market confirms its breakout through the previous session's high having traded $0.92 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 EIX

Volatility

Monday's trading range was $1.42 (2.23%), that's slightly above last trading month's daily average range of $1.25. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

Breaking through the key resistance level at 63.99 today, it is now likely to act as support going forward.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already. The share managed to break above the 100-day moving average at 64.14 today for the first time since October 19, 2017.

Order Flow

With prices trading close to this year's high at 66.91, upside momentum could accelerate should the stock be able to break out to new highs for the year.

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 Edison Int'l

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Latest Report:

EIX finds buyers again around 67.94

Sep 18, 2018
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