FISV closes higher for the 6th day in a row
Fiserv Inc. (FISV) Technical Analysis Report for Jun 01, 2020 | by Techniquant Editorial Team
Moving higher for the 6th day in a row, FISV finished Monday at 108.87 gaining $2.10 (1.97%), notably outperforming the Nasdaq 100 (0.45%). Today's close at 108.87 marks the highest recorded closing price since March 5th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 107.07, Fiserv confirmed its breakout through the prior session high after trading up to $2.01 above it intraday.
Daily Candlestick Chart (FISV as at Jun 01, 2020):
Monday's trading range has been $2.75 (2.59%), that's slightly below the last trading month's daily average range of $3.04. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for FISV.
Two candlestick patterns are matching today's price action, the White Candle which is known as bullish pattern and one bearish pattern, the Last Engulfing Top Pattern.
The share managed to close above the 200-day moving average at 107.62 for the first time since March 10th. When this moving average was crossed above the last time on March 10th, FISV actually lost -4.31% on the following trading day.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Among the eight 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 Fiserv. Out of 439 times, FISV closed higher 54.21% 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 59.68% with an average market move of 0.91%.