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GT rises to highest close since March 16th


Technical Analysis Report for GT - Apr 16, 2018 [1 min read]
Highlights
GT closes higher for the 3rd day in a row
GT runs into sellers again around 28.34
GT rises to highest close since March 16th
GT still stuck within tight trading range
GT closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, GT ended Monday at 28.21 gaining $0.37 (1.33%) on low volume. Today's closing price of 28.21 marks the highest close since March 16th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for GT
Volatility

Monday's trading range was $0.44 (1.57%), that's below last trading month's daily average range of $0.68. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 27.42 and 28.34 which it has been in now for the last trading week.

Support/Resistance

Prices are trading close to a key support level at 27.85. After having been unable to move above 28.27 in the previous session, the stock ran into sellers again around the same price level today, failing to move higher than 28.34.

Trend

Although the share is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Further buying could move prices higher should the market test March's nearby high at 29.19.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
High close to previous High TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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