HCA finds buyers around 105.28 for the third day in a row

HCA Holdings (HCA) Technical Analysis Report for Jul 13, 2018

Highlights

HCA pushes through key resistance level
HCA finds buyers around 105.28 for the third day in a row
HCA dominated by bulls lifting the market higher throughout the day
HCA ends the day on a bullish note closing near the high of the day
HCA pushes through previous session high

TQ Sentiment

Report Sentiment: 62% Bullish
Technical Forecast:

Overview

HCA ended the week 1.26% higher at 106.55 after gaining $1.18 (1.12%) today. Today's closing price of 106.55 marks the highest close since June 22nd. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 106.23, the share confirms its breakout through the prior session's high having traded $0.45 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 HCA

Volatility

Friday's trading range was $1.40 (1.33%), that's slightly below last trading month's daily average range of $1.40. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking through the key resistance level at 105.45 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 107.37. HCA Holdings found buyers again today around 105.28 for the third trading day in a row after having found demand at 105.22 in the previous session and at 105.41 two days ago.

Trend

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

Order Flow

Selling could accelerate should prices move below the nearby swing low at 105.22 where further sell stops might get triggered. With prices trading close to this year's high at 108.85, upside momentum could speed up should the stock be able to break out to new highs for the year.

Conclusion

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

Market Conditions for HCA Holdings

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