FIVN pops to highest close ever
Five9 Inc. (FIVN) Technical Analysis Report for Jan 13, 2020 | by Techniquant Editorial Team
FIVN ended Monday at 72.62 surging $1.47 (2.07%), strongly outperforming the S&P 500 (0.7%). Today's close at 72.62 marks the highest recorded closing price ever. Closing above Friday's high at 71.66, the stock confirmed its breakout through the previous session high after trading up to $2.04 above it intraday.
Daily Candlestick Chart (FIVN as at Jan 13, 2020):
Monday's trading range has been $2.32 (3.25%), that's far above the last trading month's daily average range of $1.53. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently significantly higher than usual for FIVN.
One bullish candlestick pattern matches today's price action, the White Candle. The last time a White Candle showed up on January 8th, FIVN gained 1.44% on the following trading day.
With another close above the upper Bollinger Band, prices are confirming their strong upward momentum in the short-term. A drop back into the Bollinger Band on the next trading day while could signal a potential change in momentum that might lead to a correction back down towards the center of the Bollinger Bands at 67.52.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the five 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 Five9. Out of 289 times, FIVN closed higher 51.21% 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 53.98% with an average market move of 1.95%.