FIX dominated by bulls lifting the market higher throughout the day
Comfort Systems USA Inc. (FIX) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team
FIX finished Thursday at 36.79 gaining $3.75 (11.35%), significantly outperforming the S&P 500 (6.24%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 36.53, the stock confirmed its breakout through the prior session high after trading up to $0.66 above it intraday.
Daily Candlestick Chart (FIX as at Mar 26, 2020):
Thursday's trading range has been $3.77 (11.15%), that's slightly above the last trading month's daily average range of $3.17. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for FIX.
One bullish candlestick pattern matches today's price action, the White Candle.
Buyers managed to take out the key technical resistance level at 36.04 (now S1), which is likely to act as support going forward. The last time this happened on March 17th, FIX actually lost -6.94% on the following trading day.
Though the market is experiencing a short-term uptrend, this could just be a correction, as both the medium and long-term trends are still bearish.