FTR pops to highest close since January 22nd
Frontier Communications Corporation (FTR) Technical Analysis Report for Feb 13, 2019 | by Techniquant Editorial Team
Moving higher for the 4th day in a row, FTR ended Wednesday at 2.33 gaining $0.08 (3.56%), significantly outperforming the S&P 500 (0.3%). Today's close at 2.33 marks the highest recorded closing price since January 22nd. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (FTR as at Feb 13, 2019):
Wednesday's trading range has been $0.16 (6.99%), that's slightly below the last trading month's daily average range of $0.17. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for FTR.
While Frontier Communications is experiencing a short-term uptrend, this might just be a correction, as both the medium and long-term trends are still bearish.
Among the two market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "4 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for Frontier Communications. Out of 69 times, FTR closed higher 53.62% of the time on the next trading day after the market condition occurred.