FIS climbs to highest close ever
Fidelity National Information Services Inc. (FIS) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, FIS ended the week 7.5% higher at 157.44 after gaining $3.12 (2.02%) today, strongly outperforming the S&P 500 (0.18%). Today's close at 157.44 marks the highest recorded closing price ever. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 156.82, the stock confirmed its breakout through the prior session high after trading up to $1.39 above it intraday.
Daily Candlestick Chart (FIS as at Feb 14, 2020):
Friday's trading range has been $4.34 (2.81%), that's above the last trading month's daily average range of $2.79. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently significantly higher than usual for FIS.
One bullish candlestick pattern matches today's price action, the White Candle.
With another close above the upper Bollinger Band, prices are confirming their strong upward momentum in the short-term. A drop back into the Bollinger Band on the next trading day although might signal a potential change in momentum that could lead to a correction back down towards the center of the Bollinger Bands at 148.31.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the nine market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Closed above last periods high" stand out. Its common bullish interpretation has been confirmed for Fidelity National. Out of 499 times, FIS closed higher 54.51% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 61.32% with an average market move of 0.63%.