FISV closes higher for the 2nd day in a row


Fiserv Inc. (FISV) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team

Highlights

FISV dominated by bulls lifting the market higher throughout the day
FISV closes higher for the 2nd day in a row
FISV pushes through Monday's high

Overview

Moving higher for the 2nd day in a row, FISV finished the month -8.57% lower at 97.62 after gaining $0.61 (0.63%) today, strongly underperforming the Nasdaq 100 (1.96%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Monday's high at 97.04, the share confirmed its breakout through the prior session high after trading up to $0.97 above it intraday.

Daily Candlestick Chart (FISV as at Jun 30, 2020):

Daily technical analysis candlestick chart for Fiserv Inc. (FISV) as at Jun 30, 2020

Tuesday's trading range has been $2.00 (2.08%), that's below the last trading month's daily average range of $3.32. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for FISV.

Two candlestick patterns are matching today's price action, the Bullish Short Candle and the White Candle which are both known as bullish patterns. The last time a Bullish Short Candle showed up on April 27th, FISV gained 0.60% on the following trading day.

Prices are trading close to the key technical resistance level at 98.35 (R1).

Fiserv shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.

Among the seven 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 438 times, FISV closed higher 53.88% 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 59.82% with an average market move of 0.89%.


Market Conditions for FISV as at Jun 30, 2020

Loading Market Conditions for FISV (Fiserv Inc.)...
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