GNW slips to lowest close since February 29, 2016


Genworth Financial Inc (GNW) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team

Highlights

GNW falls to lowest close since February 29, 2016

Overview

GNW finished the month -24.26% lower at 2.31 after tanking $0.25 (-9.77%) today on high volume, notably underperforming the S&P 500 (1.54%). Today's close at 2.31 marks the lowest recorded closing price since February 29, 2016.

Daily Candlestick Chart (GNW as at Jun 30, 2020):

Daily technical analysis candlestick chart for Genworth Financial Inc (GNW) as at Jun 30, 2020

Tuesday's trading range has been $0.47 (23.5%), that's far above the last trading month's daily average range of $0.20. Weekly volatility is also higher, being above the market's average weekly trading range. The longer-term, monthly volatility is currently strongly higher than usual for GNW.

Two candlestick patterns are matching today's price action, the Bullish Hikkake Pattern and the White Candle which are both known as bullish patterns. The last time a White Candle showed up on June 25th, GNW actually lost -5.32% on the following trading day.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Gap Down" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for Genworth Financial. Out of 63 times, GNW closed higher 58.73% of the time on the next trading day after the market condition occurred.


Market Conditions for GNW as at Jun 30, 2020

Loading Market Conditions for GNW (Genworth Financial Inc)...
Latest Report:

GNW finds buyers again around 2.06

Jul 10, 2020
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