FISV finds buyers again around 71.90


Fiserv Inc (FISV) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
FISV closes above its opening price after recovering from early selling pressure
FISV finds buyers at key support level
FISV closes higher for the 2nd day in a row
FISV ends the day on a bullish note closing near the high of the day
FISV finds buyers again around 71.90
TQ Sentiment
Report Sentiment: 55% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, FISV ended Thursday at 72.50 gaining $0.22 (0.3%). Trading up to $0.36 lower after the open, the stock 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 with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for FISV
Volatility

Thursday's trading range was $0.70 (0.97%), that's below last trading month's daily average range of $1.15. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Price Action

Notwithstanding a weak opening the market managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

After trading as low as 71.90 during the day, Fiserv Inc bounced off the key support level at 72.15. The failure to close below the support might increase that levels importance as support going forward. After having been unable to move lower than 72.01 in the prior session, the share found buyers again around the same price level today at 71.90.

Trend

FISV shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 73.19 where further buy stops might get triggered. Selling could speed up should prices move below the close-by swing low at 71.58 where further sell stops might get activated. With prices trading close to this year's high at 74.46, upside momentum could accelerate should the stock be able to break out to new highs for the year.

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 Fiserv Inc
Condition Forecast Direction Win Avg Worst Best Events
White Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Hikkake Pattern TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

FISV closes within prior day's range

Aug 14, 2018
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