EXC breaks below previous session low


Exelon Corp. (EXC) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
EXC unable to break through key resistance level
EXC closes lower for the 4th day in a row
EXC ends the day on a bearish note closing near the low of the day
EXC breaks below previous session low
EXC falls to lowest close since April 25th
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

Moving lower for the 4th day in a row, EXC finished Thursday at 39.35 losing $0.44 (-1.11%). Today's closing price of 39.35 marks the lowest close since April 25th. Closing below Wednesday's low at 39.58, the share confirms its breakout through the previous session's low having traded $0.33 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for EXC
Volatility

Thursday's trading range was $0.75 (1.88%), that's above last trading month's daily average range of $0.59. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 39.08. Unable to break through the key technical resistance level at 39.91, the market closed below it after spiking as high as 40.00 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

Although Exelon Corp. is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

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 Exelon Corp.
Condition Forecast Direction Win Avg Worst Best Events
White Candle TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
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