FLS pushes through key resistance level


Flowserve Corporation (FLS) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
FLS pushes through key resistance level
FLS pushes through 100-day moving average
FLS pushes through previous session high
FLS stuck within tight trading range
TQ Sentiment
Report Sentiment: 60% Bullish
Technical Forecast:
Overview

FLS ended Thursday at 44.10 gaining $0.77 (1.78%). Closing above Wednesday's high at 43.67, Flowserve Corporation confirms its breakout through the prior session's high having traded $0.72 above it intraday.

Daily chart for FLS
Volatility

Thursday's trading range was $1.08 (2.49%), that's slightly below last trading month's daily average range of $1.34. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 42.73 and 44.39 which it has been in now for the last three days.

Support/Resistance

Breaking through the key resistance level at 44.06 today, it is now likely to act as support going forward.

Trend

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already. The market managed to break above the 100-day moving average at 44.04 today for the first time since May 14th.

Order Flow

Selling might speed up should prices move below the close-by swing low at 42.73 where further sell stops could get activated. Further selling might move prices lower should the market test April's nearby low at 42.00.

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.

Market Conditions for Flowserve Corporation
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

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

Signup
Stocks Top Movers
ETHUSD 313.2627.54 9.64%
BTCUSD 6,552.78258.70 4.11%
NATGAS 2.9440.033 1.13%
GOLD 1,191.810.8 0.91%
CRUDE 65.200.47 0.73%
CAC 5,344.93-4.09 -0.08%
DAX 12,210.55-26.62 -0.22%
USDJPY 110.50-0.40 -0.36%
DXY 95.980-0.555 -0.57%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.81 0.59
0.60%
ACN 10 day candlestick chart for ACN164.89 2.00
1.23%
ADBE 10 day candlestick chart for ADBE245.70 -3.19
-1.28%
AAP 10 day candlestick chart for AAP159.72 0.23
0.14%
AES 10 day candlestick chart for AES13.94 0.07
0.50%
AET 10 day candlestick chart for AET198.86 0.39
0.20%
AFL 10 day candlestick chart for AFL46.76 0.26
0.56%
AMG 10 day candlestick chart for AMG146.59 0.30
0.21%
A 10 day candlestick chart for A64.66 -0.84
-1.28%
ABT 10 day candlestick chart for ABT64.72 0.56
0.87%