GPN closes higher for the 5th day in a row
Global Payments Inc (GPN) Technical Analysis Report for Sep 14, 2018
Moving higher for the 5th day in a row, GPN finished the week 3.93% higher at 128.59 after edging higher $0.26 (0.2%) today on low volume. Today's closing price of 128.59 marks the highest close since Inception. Closing within the previous day's range, prices failed to decisively move beyond the prior 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.
Friday's trading range was $1.06 (0.82%), that's far below last trading month's daily average range of $1.61. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Prices are trading close to the key resistance level at 129.25. After having been unable to move above 129.25 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 129.20.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the nearby swing high at 129.25 where further buy stops could get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Global Payments Inc
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Close near low of period||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Strong Down Move||TQ Pro Members Only|
|Down Close Near Low of Period||TQ Pro Members Only|
|Bullish Hikkake Pattern||TQ Pro Members Only|
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