FLIR pushes through Monday's high

FLIR Systems Inc. (FLIR) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team


FLIR closes higher for the 2nd day in a row
FLIR pushes through Monday's high


Moving higher for the 2nd day in a row, FLIR ended the month -12.19% lower at 40.57 after gaining $0.52 (1.3%) today, slightly underperforming the S&P 500 (1.54%). Closing above Monday's high at 40.28, the stock confirmed its breakout through the previous session high after trading up to $0.45 above it intraday.

Daily Candlestick Chart (FLIR as at Jun 30, 2020):

Daily technical analysis candlestick chart for FLIR Systems Inc. (FLIR) as at Jun 30, 2020

Tuesday's trading range has been $0.95 (2.38%), that's far below the last trading month's daily average range of $1.53. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for FLIR.

Two candlestick patterns are matching today's price action, the Bullish Short Candle and the White Candle which are both known as bullish patterns. The last time a White Candle showed up on June 25th, FLIR actually lost -1.83% on the following trading day.

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.

Among the seven market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bullish Short Candle" stand out. Its common bullish interpretation has been confirmed for FLIR Systems. Out of 67 times, FLIR closed higher 50.75% 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 58.21% with an average market move of 0.80%.

Market Conditions for FLIR as at Jun 30, 2020

Loading Market Conditions for FLIR (FLIR Systems Inc.)...
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