APRIL SALE: Save over 60% on our Pro Plans!

FL ends the day on a bearish note closing near the low of the day


Technical Analysis Report for FL - Apr 16, 2018 [1 min read]
Highlights
FL tanks -4.09% on high volume
FL breaks key support level
FL dominated by bears dragging the market lower throughout the day
FL breaks below 20-day moving average
FL closes lower for the 4th day in a row
TQ Sentiment
Technical Forecast:
Overview

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.

Daily chart for FL
Volatility

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.

Support/Resistance

Breaking below the key support level at 44.28 today, it is now likely to act as resistance going forward.

Trend

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.

Order Flow

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.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
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
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Latest Report:

FL runs into sellers again around 42.18

Apr 25, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Foot Locker Inc traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

USDJPY 109.430.61 0.56%
NKY 22,319.61104.29 0.47%
DXY 90.9550.415 0.46%
CRUDE 68.010.29 0.43%
INDU 24,083.8359.70 0.25%
GBPUSD 1.3932-0.0045 -0.32%
TBOND 141.750-0.594 -0.42%
GOLD 1,324.4-7.8 -0.59%
EURUSD 1.2161-0.0072 -0.59%
FTSE 7,379.32-46.08 -0.62%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.