ES closes within prior day's range after lackluster session

Eversource Energy (ES) Technical Analysis Report for Jul 13, 2018

Highlights

ES finds buyers around 58.81 for the third day in a row
ES stuck within tight trading range
ES closes within previous day's range after lackluster session
ES ends the day indecisive

TQ Sentiment

Report Sentiment: 25% Bullish
Technical Forecast:

Overview

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.

Daily chart for ES

Volatility

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.

Support/Resistance

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.

Trend

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Conclusion

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

Market Conditions for Eversource Energy

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Latest Report:

ES pushes through key resistance level

Sep 21, 2018
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