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F ends the day on a bullish note closing near the high of the day


Technical Analysis Report for F - May 17, 2018 [< 1 min read]
Highlights
F unable to break through key resistance level
F closes higher for the 3rd day in a row
F ends the day on a bullish note closing near the high of the day
F pushes through previous session high
F rises to highest close since April 27th
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, F ended Thursday at 11.46 gaining $0.06 (0.53%) on low volume. Today's closing price of 11.46 marks the highest close since April 27th. Closing above Wednesday's high at 11.40, the market confirms its breakout through the previous session's high having traded $0.08 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for F
Volatility

Thursday's trading range was $0.10 (0.88%), that's far below last trading month's daily average range of $0.22. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Unable to break through the key technical resistance level at 11.48, the stock closed below it after spiking as high as 11.48 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Further buying could move prices higher should the market test April's close-by high at 11.73.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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