ES closes within prior day's range after lackluster session
Eversource Energy (ES) Technical Analysis Report for Jul 13, 2018
ES ended the week -1.94% lower at 59.14 after flat today. Closing within the previous day's range, prices failed to decisively move past the prior 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 $0.67 (1.13%), that's below last trading month's daily average range of $0.90. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 58.75 and 59.48 which it has been in now for the last three days.
Eversource Energy found buyers again today around 58.81 for the third trading day in a row after having found demand at 58.88 in the previous session and at 58.75 two days ago.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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