HOLX climbs to highest close ever
Hologic Inc. (HOLX) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team
HOLX ended the month 7.55% higher at 57.00 after surging $3.67 (6.88%) today, strongly outperforming the Nasdaq 100 (1.96%). This is the biggest single-day gain in over 14 years. The last time we've seen such an unusually strong single-day gain on June 19th, HOLX gained 0.09% on the following trading day. Today's close at 57.00 marks the highest recorded closing price ever. The bulls were in full control today, moving the market higher throughout the whole session. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (HOLX as at Jun 30, 2020):
Tuesday's trading range has been $3.47 (6.42%), that's far above the last trading month's daily average range of $1.66. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for HOLX.
One bullish candlestick pattern matches today's price action, the White Candle.
Crossing above the upper Bollinger Band for the first time since June 23rd, prices have shown unusually strong upward momentum in the short-term. This might either indicate a potential buying climax after which prices could head back down towards the mean of the Bollinger Bands at 53.29 or signal the beginning of a strong momentum breakout leading to even higher prices.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the 10 market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Up Close near high of period" stand out. Its common bullish interpretation has been confirmed for Hologic. Out of 548 times, HOLX closed higher 51.64% 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 52.92% with an average market move of 0.32%.