ESV pops to highest close since February 6th

Ensco plc (ESV) Technical Analysis Report for Apr 16, 2018

Highlights

ESV pushes through 100-day moving average
ESV closes higher for the 6th day in a row
ESV pushes through previous session high
ESV rises to highest close since February 6th

TQ Sentiment

Report Sentiment: 66% Bullish
Technical Forecast:

Overview

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.

Daily chart for ESV

Volatility

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.

Price Action

Regardless of a weak opening the market managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

Prices are trading close to a key support level at 5.41.

Trend

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.

Conclusion

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 Win Rate 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
More market conditions identified for TQ Pro members...
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