EXPD stuck within tight trading range
Expeditors International of Washington Inc. (EXPD) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (EXPD as at Aug 10, 2018):
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.
Prices are trading close to a key support level at 72.80. Prices are trading close to the key resistance level at 73.76.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.