FL closes within prior day's range after lackluster session
Foot Locker Inc (FL) Technical Analysis Report for Sep 14, 2018
Moving lower for the 4th day in a row, FL finished the week -0.32% lower at 46.59 after losing $0.45 (-0.96%) today. Today's closing price of 46.59 marks the lowest close since May 24th. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Friday's trading range was $1.22 (2.58%), that's below last trading month's daily average range of $1.56. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 46.01. Prices are trading close to the key resistance level at 47.20.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Further selling could move prices lower should the market test August's close-by low at 46.01.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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