FLR dominated by bears dragging the market lower throughout the day
Fluor Corporation (FLR) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (FLR as at Apr 16, 2018):
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.
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.
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.
The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Selling could accelerate should prices move below the close-by swing low at 57.66 where further sell stops might get activated.