GPN breaks below prior session low


Global Payments Inc (GPN) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team

Highlights

GPN runs into sellers around 119.69 for the third day in a row
GPN closes below its opening price unable to hold early session gains
GPN ends the day on a bearish note closing near the low of the day
GPN breaks below previous session low

Overview

GPN ended Thursday at 117.75 losing $0.73 (-0.62%). Trading $0.86 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 118.19, the stock confirms its breakout through the prior session's low having traded $0.49 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (GPN as at Jun 14, 2018):

Daily technical analysis candlestick chart for Global Payments Inc (GPN) as at Jun 14, 2018

Thursday's trading range was $1.99 (1.67%), that's slightly below last trading month's daily average range of $2.01. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bearish Outside Bar.

Prices are trading close to the key resistance level at 118.50. Global Payments ran into sellers again today around 119.69 for the third trading day in a row after having found sellers at 119.65 in the previous session and at 119.35 two days ago.

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


Market Conditions for GPN as at Jun 14, 2018

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