HII closes higher for the 3rd day in a row

Huntington Ingalls Industries Inc. (HII) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team


HII rallies 10.06% closing $17.85 higher
HII breaks above 20-day moving average for the first time since January 28th
HII dominated by bulls lifting the market higher throughout the day
HII closes higher for the 3rd day in a row
HII pushes through Wednesday's high


Moving higher for the 3rd day in a row, HII ended Thursday at 195.29 surging $17.85 (10.06%), notably outperforming the S&P 500 (6.24%). This is the biggest single-day gain in over two years. The last time we've seen such an unusually strong single-day gain on March 10th, HII actually lost -5.48% on the following trading day. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 183.33, Huntington Ingalls confirmed its breakout through the previous session high after trading up to $13.37 above it intraday.

Daily Candlestick Chart (HII as at Mar 26, 2020):

Daily technical analysis candlestick chart for Huntington Ingalls Industries Inc. (HII) as at Mar 26, 2020

Thursday's trading range has been $19.52 (10.96%), that's far above the last trading month's daily average range of $14.07. Weekly volatility is also higher, being above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for HII.

One bullish candlestick pattern matches today's price action, the White Candle.

The stock managed to close above the 20-day moving average at 186.24 for the first time since January 28th.

Although the share is experiencing a short-term uptrend, this could just be a correction, as both the medium and long-term trends are still bearish.

Among the nine market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Price broke through Technical Resistance R1" stand out. Its common bullish interpretation has been confirmed for Huntington Ingalls. Out of 202 times, HII closed higher 55.45% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 59.90% with an average market move of 1.28%.

Market Conditions for HII as at Mar 26, 2020

Loading Market Conditions for HII (Huntington Ingalls Industries Inc.)...
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