HFC runs into sellers again around 74.08


Hollyfrontier Corp (HFC) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
HFC runs into sellers again around 74.08
HFC closes within previous day's range after lackluster session
HFC ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

HFC finished Thursday at 72.96 edging lower $0.09 (-0.12%). Closing within the previous day's range, prices failed to decisively move past 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.

Daily chart for HFC
Volatility

Thursday's trading range was $2.16 (2.94%), that's below last trading month's daily average range of $2.84. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Price Action

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.

Support/Resistance

Prices are trading close to a key support level at 71.90. After having been unable to move above 74.12 in the prior session, Hollyfrontier Corp ran into sellers again around the same price level today, failing to move higher than 74.08.

Trend

While the market is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Order Flow

Selling might accelerate should prices move below the close-by swing low at 70.83 where further sell stops could get activated.

Conclusion

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

Market Conditions for Hollyfrontier Corp
ConditionForecastDirectionWinAvgWorstBest
Closed above last periods high TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

HFC pushes through prior session high

Jun 18, 2018
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