ESV pops to highest close since January 12th


Ensco plc (ESV) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
ESV pulls back from highs giving back most intraday gains
ESV closes below its opening price unable to hold early session gains
ESV closes higher for the 4th day in a row
ESV rises to highest close since January 12th
ESV closes within previous day's range
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

Moving higher for the 4th day in a row, ESV finished Thursday at 7.07 gaining $0.05 (0.71%) on high volume. Today's closing price of 7.07 marks the highest close since January 12th. Trading $0.37 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for ESV
Volatility

Thursday's trading range was $0.52 (7.29%), that's far above last trading month's daily average range of $0.30. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.

Price Action

After spiking up to 7.50 during the day, Ensco plc has been sold off at those price levels and formed a bearish Pin Bar closing $0.43 below today's high.

Trend

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

Order Flow

With prices trading close to this year's high at 7.53, upside momentum could speed up should the market be able to break out to new highs for the year.

Conclusion

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

Market Conditions for Ensco plc
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close near low of period TQ Pro Members Only
Homing Pigeon TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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