EXPD stuck within tight trading range


Expeditors Int'l (EXPD) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
EXPD closes above its opening price after recovering from early selling pressure
EXPD closes lower for the 2nd day in a row
EXPD stuck within tight trading range
EXPD closes within previous day's range
EXPD ends the day indecisive
TQ Sentiment
Report Sentiment: 28% Bullish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, EXPD ended the week -4.56% lower at 73.08 after losing $0.17 (-0.23%) today. Trading up to $0.43 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond 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 EXPD
Volatility

Friday's trading range was $1.12 (1.54%), that's slightly below last trading month's daily average range of $1.60. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 72.12 and 74.03 which it has been in now for the last three days.

Support/Resistance

Prices are trading close to a key support level at 72.80. Prices are trading close to the key resistance level at 73.76.

Trend

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

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 Expeditors Int'l
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Bearish Bounce off SMA 50 TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
Hanging Man TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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