FIS closes above its opening price after recovering from early selling pressure


Fidelity National Information Services (FIS) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
FIS closes above its opening price after recovering from early selling pressure
FIS pushes through 100-day moving average
FIS finds support at 20-day moving average
FIS runs into sellers again around 97.54
FIS rises to highest close since April 5th
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

FIS finished Monday at 97.29 gaining $1.06 (1.1%) on low volume. Today's closing price of 97.29 marks the highest close since April 5th. Trading up to $0.56 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for FIS
Volatility

Monday's trading range was $1.04 (1.07%), that's far below last trading month's daily average range of $1.79. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 95.86 and 97.62 which it has been in now for the last trading week.

Price Action

After moving lower in the previous session, the stock managed to close higher but below the prior day's open, forming a bullish Harami Candle.

Support/Resistance

Prices are trading close to the key resistance level at 97.62. After having been unable to move above 97.41 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 97.54. After trading as low as 96.50 during the day, FIS found support at the 20-day moving average at 96.72.

Trend

The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The stock managed to break above the 100-day moving average at 96.45 today for the first time since April 10th.

Order Flow

Buying could speed up should prices move above the nearby swing high at 97.62 where further buy stops might get triggered. Selling could accelerate should prices move below the close-by swing low at 95.86 where further sell stops might get activated. As prices are trading close to April's high at 98.00, upside momentum could speed up should the share mark new highs for the month.

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 Fidelity National Information Services
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
White Candle TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

FIS pushes through prior session high

Jul 18, 2018
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