ESV pops to highest close since February 6th
Ensco plc (ESV) Technical Analysis Report for Apr 16, 2018
Moving higher for the 6th day in a row, ESV ended Monday at 5.52 gaining $0.09 (1.66%). Today's closing price of 5.52 marks the highest close since February 6th. Closing above Friday's high at 5.48, the share confirms its breakout through the prior session's high having traded $0.18 above it intraday.
Monday's trading range was $0.33 (6.11%), that's above last trading month's daily average range of $0.27. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.
Regardless of a weak opening the market managed to close above the previous day's open and close, forming a bullish Engulfing Candle.
Prices are trading close to a key support level at 5.41.
Ensco plc shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The stock managed to break above the 100-day moving average at 5.44 today for the first time since December 20, 2017.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.
Market Conditions for Ensco plc
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Close near low of period||TQ Pro Members Only|
|Bearish Outside Bar||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Low close to previous two Lows||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
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