EVHC closes within previous day's range


Envision Healthcare (EVHC) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
EVHC runs into sellers around 44.81 for the third day in a row
EVHC closes below its opening price unable to hold early session gains
EVHC finds buyers at key support level
EVHC stuck within tight trading range
EVHC closes within previous day's range
TQ Sentiment
Report Sentiment: 28% Bearish
Technical Forecast:
Overview

EVHC ended the week 1.18% higher at 44.71 after flat today on low volume. Trading $0.09 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous 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 EVHC
Volatility

Friday's trading range was $0.24 (0.54%), that's slightly below last trading month's daily average range of $0.29. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 44.55 and 44.83 which it has been in now for the last three days.

Support/Resistance

After trading as low as 44.57 during the day, Envision Healthcare bounced off the key support level at 44.58. The failure to close below the support might increase that levels importance as support going forward. The share ran into sellers again today around 44.81 for the third trading day in a row after having found sellers at 44.82 in the prior session and at 44.83 two days ago.

Trend

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

Order Flow

Buying could speed up should prices move above the close-by swing high at 44.83 where further buy stops might get triggered. With prices trading close to this year's high at 44.89, upside momentum could accelerate 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 bullish.

Market Conditions for Envision Healthcare
ConditionForecastDirectionWinAvgWorstBestEvents
2 Consecutive Higher Closes TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
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