FBHS dominated by bulls lifting the market higher throughout the day
Fortune Brands Home & Security Inc. (FBHS) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, FBHS finished Thursday at 56.99 gaining $0.58 (1.03%). Today's closing price of 56.99 marks the highest close since April 23rd. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 56.66, the share confirms its breakout through the prior session's high having traded $0.60 above it intraday.
Daily Candlestick Chart (FBHS as at May 17, 2018):
Thursday's trading range was $1.02 (1.81%), that's slightly below last trading month's daily average range of $1.26. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
Although the market is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.