ES pushes through prior session high


Eversource Energy (ES) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
ES closes higher for the 2nd day in a row
ES pushes through previous session high
ES rises to highest close since January 31st
ES ends the day indecisive
TQ Sentiment
Report Sentiment: 25% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, ES ended the week 0.69% higher at 61.35 after gaining $0.21 (0.34%) today. Today's closing price of 61.35 marks the highest close since January 31st. Closing above Thursday's high at 61.25, the market confirms its breakout through the prior session's high having traded $0.55 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 ES
Volatility

Friday's trading range was $0.60 (0.98%), that's below last trading month's daily average range of $0.79. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

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
Condition Forecast Direction Win Avg Worst Best Events
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
6 Consecutive Higher Closes TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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