ETFC pushes through key resistance level


E*Trade (ETFC) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
ETFC pushes through key resistance level
ETFC still stuck within tight trading range
ETFC closes within previous day's range after lackluster session
ETFC ends the day indecisive
TQ Sentiment
Report Sentiment: 25% Bullish
Technical Forecast:
Overview

ETFC finished Monday at 57.59 gaining $0.63 (1.11%) on low volume. 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 ETFC
Volatility

Monday's trading range was $0.84 (1.47%), that's far below last trading month's daily average range of $1.70. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 56.33 and 58.39 which it has been in now for the last trading week.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar. After moving lower in the prior session, the market managed to close higher but below the previous day's open, forming a bullish Harami Candle.

Support/Resistance

Breaking through the key resistance level at 57.55 today, it is now likely to act as support going forward.

Trend

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

Order Flow

Buying might speed up should prices move above the close-by swing high at 58.39 where further buy stops could get triggered. Selling might accelerate should prices move below the nearby swing low at 56.60 where further sell stops could get activated. With prices trading close to this year's high at 58.49, upside momentum might speed up should the share 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 bullish.

Market Conditions for E*Trade
ConditionForecastDirectionWinAvgWorstBestEvents
Close to S1 Support TQ Pro Members Only
4 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bearish Break through SMA 100 TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Latest Report:

ETFC breaks key support level

Jul 13, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when E*Trade traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

ETHUSD 448.3514.61 3.37%
NKY 22,597.35409.39 1.85%
BTCUSD 6,363.5989.46 1.43%
DAX 12,540.7347.76 0.38%
INDU 25,019.4194.52 0.38%
DXY 94.500-0.065 -0.07%
USDJPY 112.36-0.17 -0.15%
GOLD 1,241.8-5.9 -0.47%
NATGAS 2.758-0.042 -1.50%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV96.63 1.02
1.07%
ACN 10 day candlestick chart for ACN168.09 0.06
0.04%
ADBE 10 day candlestick chart for ADBE258.59 3.72
1.46%
AAP 10 day candlestick chart for AAP139.34 0.55
0.40%
AES 10 day candlestick chart for AES13.18 0.08
0.61%
AET 10 day candlestick chart for AET191.89 0.81
0.42%
AFL 10 day candlestick chart for AFL42.60 0.12
0.28%
AMG 10 day candlestick chart for AMG148.48 -0.68
-0.46%
A 10 day candlestick chart for A63.38 -0.07
-0.11%
ABT 10 day candlestick chart for ABT63.06 0.32
0.51%