EPR climbs to highest close since April 29th
EPR Properties (EPR) Technical Analysis Report for May 22, 2020 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, EPR finished the week 20.37% higher at 30.14 after gaining $0.86 (2.94%) today, significantly outperforming the S&P 500 (0.24%) ahead of tomorrow's Memorial Day market holiday. Today's close at 30.14 marks the highest recorded closing price since April 29th. Closing above Thursday's high at 29.55, the stock confirmed its breakout through the previous session high after trading up to $0.95 above it intraday.
Daily Candlestick Chart (EPR as at May 22, 2020):
Friday's trading range has been $1.60 (5.47%), that's below the last trading month's daily average range of $1.92. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for EPR.
Two candlestick patterns are matching today's price action, the White Candle which is known as bullish pattern and one bearish pattern, the Bearish Hikkake Pattern. The last time a Bearish Hikkake Pattern showed up on Monday, EPR lost -0.42% on the following trading day.
Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Further buying might move prices higher should the market test April's nearby high at 32.07.
Among the four market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bearish Hikkake Pattern" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for EPR Properties. Out of 147 times, EPR closed higher 55.78% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 56.46% with an average market move of 0.25%.