EL ends the day indecisive

Estee Lauder Cos. (EL) Technical Analysis Report for Sep 14, 2018

Highlights

EL closes above its opening price after recovering from early selling pressure
EL finds support at 200-day moving average
EL closes higher for the 3rd day in a row
EL pushes through previous session high
EL rises to highest close since July 25th

TQ Sentiment

Report Sentiment: 50% Bullish
Technical Forecast:

Overview

Moving higher for the 3rd day in a row, EL finished the week 1.56% higher at 140.93 after gaining $0.80 (0.57%) today on low volume. Today's closing price of 140.93 marks the highest close since July 25th. Trading up to $0.66 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 140.66, the stock confirms its breakout through the prior session's high having traded $1.14 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for EL

Volatility

Friday's trading range was $1.87 (1.33%), that's below last trading month's daily average range of $2.90. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 139.66. Prices are trading close to the key resistance level at 142.24. After trading as low as 139.93 during the day, the market found support at the 200-day moving average at 140.14.

Trend

While Estee Lauder is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Conclusion

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

Market Conditions for Estee Lauder Cos.

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