FTI stuck within tight trading range
FTI finished Monday at 32.36 edging lower $0.02 (-0.06%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Monday's trading range was $0.66 (2.04%), that's below last trading month's daily average range of $0.88. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 32.02 and 32.68 which it has been in now for the last three days.
Prices are trading close to a key support level at 31.93. Prices are trading close to the key resistance level at 33.02. The market found buyers again today around 32.02 for the third trading day in a row after having found demand at 32.13 in the prior session and at 32.09 two days ago.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Trading close to February's high at 33.24 we could see further upside momentum if potential buy stops at the level get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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|Low close to previous two Lows||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
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