FIVE misses to close above 20-day moving average


Five Below Inc. (FIVE) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team

Highlights

FIVE closes below its opening price unable to hold early session gains
FIVE fails to close above 20-day moving average
FIVE closes higher for the 5th day in a row
FIVE ends the day indecisive

Overview

Moving higher for the 5th day in a row, FIVE ended Thursday at 78.11 gaining $1.49 (1.94%), significantly underperforming the S&P 500 (6.24%). Trading $3.10 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on March 20th, FIVE actually gained 11.51% on the following trading day. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (FIVE as at Mar 26, 2020):

Daily technical analysis candlestick chart for Five Below Inc. (FIVE) as at Mar 26, 2020

Thursday's trading range has been $7.31 (9.33%), that's slightly below the last trading month's daily average range of $8.03. Things look different on the weekly timeframe, where the market's trading range of the last week has been above the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for FIVE.

Two candlestick patterns are matching today's price action, the Northern Doji which is known as bearish pattern and one neutral pattern, the Doji.

After spiking up to 81.42 during the day, the market found resistance at the 20-day moving average at 78.74.

While Five Below is experiencing a short-term uptrend, this could just be a correction, as both the medium and long-term trends are still bearish.

Among the five market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Northern Doji" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for Five Below. Out of 55 times, FIVE closed higher 60.00% 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 60.00% with an average market move of 0.92%.


Market Conditions for FIVE as at Mar 26, 2020

Loading Market Conditions for FIVE (Five Below Inc.)...
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FIVE breaks below Thursday's low

Mar 27, 2020
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