FND finds buyers around 37.05 for the third day in a row
Floor & Decor Holdings Inc. (FND) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
FND ended the week 1.47% higher at 38.05 after losing $0.86 (-2.21%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range.
Daily Candlestick Chart (FND as at Aug 10, 2018):
Friday's trading range was $1.94 (4.98%), that's slightly above last trading month's daily average range of $1.84. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being exactly the same as average. Prices continued to consolidate within a tight trading range between 36.64 and 39.57 which it has been in now for the last trading week.
Prices are trading close to the key resistance level at 39.57. Floor & found buyers again today around 37.05 for the third trading day in a row after having found demand at 37.45 in the previous session and at 37.23 two days ago.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying could accelerate should prices move above the close-by swing high at 39.57 where further buy stops might get triggered. Selling could speed up should prices move below the nearby swing low at 36.26 where further sell stops might get activated.