GPN breaks below prior session low


Global Payments Inc (GPN) Technical Analysis Report for Jun 14, 2018 [1 min read]
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
TQ Sentiment
Technical Forecast:
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 chart for GPN
Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

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

Conclusion

Even though both sentiments are bearish for the next trading day, our quantitative statistics are only bearish while the classical technical analysis metrics show a very bearish sentiment.

Market Conditions for Global Payments Inc
ConditionForecastDirectionWinAvgWorstBestEvents
4 Consecutive Lower Closes TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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