FLR dominated by bears dragging the market lower throughout the day

Fluor Corp. (FLR) Technical Analysis Report for Apr 16, 2018

Highlights

FLR dominated by bears dragging the market lower throughout the day
FLR finds buyers again around 57.83
FLR closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

FLR ended Monday at 57.96 edging higher $0.04 (0.07%). The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily chart for FLR

Volatility

Monday's trading range was $0.52 (0.89%), that's far below last trading month's daily average range of $1.41. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

After having been unable to move lower than 57.66 in the prior session, the stock found buyers again around the same price level today at 57.83.

Trend

The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 57.66 where further sell stops might get activated.

Conclusion

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

Market Conditions for Fluor Corp.

Condition Forecast Direction Win Rate Exit Day Events
Close near low of period TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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