HSIC finds buyers at key support level


Henry Schein (HSIC) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
HSIC closes above its opening price after recovering from early selling pressure
HSIC finds buyers at key support level
HSIC ends the day on a bullish note closing near the high of the day
HSIC closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

HSIC ended Thursday at 72.88 gaining $0.55 (0.76%). Trading up to $0.38 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for HSIC
Volatility

Thursday's trading range was $1.01 (1.4%), that's below last trading month's daily average range of $1.28. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

After trading as low as 72.00 during the day, the share bounced off the key support level at 72.02. The failure to close below the support could increase that levels importance as support going forward. Prices are trading close to the key resistance level at 73.68.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying might speed up should prices move above the close-by swing high at 73.61 where further buy 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 bullish.

Market Conditions for Henry Schein
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 50 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

HSIC finds buyers at key support level

Jun 21, 2018
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