FIVE climbs to highest close since September 12, 2019


Five Below Inc. (FIVE) Technical Analysis Report for Sep 16, 2020 | by Techniquant Editorial Team

Highlights

FIVE rises to highest close since September 12, 2019
FIVE closes higher for the 6th day in a row
FIVE ends the day indecisive

Overview

Moving higher for the 6th day in a row, FIVE ended Wednesday at 134.07 gaining $1.39 (1.05%), significantly outperforming the S&P 500 (-0.46%). Today's close at 134.07 marks the highest recorded closing price since September 12, 2019. 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 Sep 16, 2020):

Daily technical analysis candlestick chart for Five Below Inc. (FIVE) as at Sep 16, 2020

Wednesday's trading range has been $2.93 (2.19%), that's below the last trading month's daily average range of $4.04. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for FIVE.

One bullish candlestick pattern matches today's price action, the Bullish Spinning Top.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Selling could accelerate should prices move below the nearby swing low at 130.63 where further sell stops might get activated.

Among the four market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "6 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for Five Below. Out of 21 times, FIVE closed higher 66.67% of the time on the next trading day after the market condition occurred.


Market Conditions for FIVE as at Sep 16, 2020

Loading Market Conditions for FIVE (Five Below Inc.)...
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