GWRE rises to highest close since Inception


Guidewire Software Inc (GWRE) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
GWRE pushes through key resistance level
GWRE dominated by bulls lifting the market higher throughout the day
GWRE closes higher for the 9th day in a row
GWRE ends the day on a bullish note closing near the high of the day
GWRE finds buyers again around 93.19
TQ Sentiment
Report Sentiment: 75% Bullish
Technical Forecast:
Overview

Moving higher for the 9th day in a row, GWRE finished the week 7.87% higher at 96.06 after gaining $1.66 (1.76%) today. Today's closing price of 96.06 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 95.50, the stock confirms its breakout through the previous session's high having traded $1.16 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for GWRE
Volatility

Friday's trading range was $3.47 (3.71%), that's far above last trading month's daily average range of $2.23. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.

Price Action

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

Support/Resistance

Breaking through the key resistance level at 95.88 today, it is now likely to act as support going forward. After having been unable to move lower than 93.52 in the prior session, the share found buyers again around the same price level today at 93.19.

Trend

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

Conclusion

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

Market Conditions for Guidewire Software Inc
Condition Forecast Direction Win Avg Worst Best Events
Bearish Outside Bar TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
High close to previous three Highs TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

GWRE finds buyers at key support level

Aug 17, 2018
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