FL ends the day on a bearish note closing near the low of the day
Moving lower for the 4th day in a row, FL ended Monday at 43.35 tanking $1.85 (-4.09%) on high volume. This is the biggest single day loss in over three weeks. Today's closing price of 43.35 marks the lowest close since March 22nd. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 44.98, the market confirms its breakout through the previous session's low having traded $1.69 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Monday's trading range was $1.73 (3.84%), that's above last trading month's daily average range of $1.42. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.
Breaking below the key support level at 44.28 today, it is now likely to act as resistance going forward.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already. The stock broke below the 20-day moving average at 45.06 today for the first time since February 27th.
As prices are trading close to April's low at 43.15, downside momentum might accelerate should the share mark new lows for the month.
While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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|Price broke through Technical Support S1||TQ Pro Members Only|
|Bearish Break through SMA 20||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|4 Consecutive Lower Closes||TQ Pro Members Only|
|Decisive Down Move||TQ Pro Members Only|
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