FLR closes lower for the 3rd day in a row
Fluor Corporation (FLR) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 3rd day in a row, FLR ended the week 0.02% higher at 55.66 after losing $0.48 (-0.86%) today on low volume. Today's closing price of 55.66 marks the lowest close since August 3rd. Trading up to $0.34 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing below Thursday's low at 56.07, Fluor Corp. confirms its breakout through the previous session's low having traded $0.82 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (FLR as at Aug 10, 2018):
Friday's trading range was $0.75 (1.35%), that's below last trading month's daily average range of $1.11. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way above average.
Prices are trading close to a key support level at 55.61.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Buying might speed up should prices move above the nearby swing high at 56.80 where further buy stops could get triggered.