HSIC closes lower for the 4th day in a row


Henry Schein (HSIC) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team

Highlights

HSIC breaks key support level
HSIC dominated by bears dragging the market lower throughout the day
HSIC breaks below 20-day moving average
HSIC closes lower for the 4th day in a row
HSIC breaks below previous session low

Overview

Moving lower for the 4th day in a row, HSIC ended the week -3.56% lower at 77.37 after losing $1.16 (-1.48%) today. Today's closing price of 77.37 marks the lowest close since July 26th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 78.06, the share confirms its breakout through the previous session's low having traded $0.94 below it intraday.

Daily Candlestick Chart (HSIC as at Aug 10, 2018):

Daily technical analysis candlestick chart for Henry Schein (HSIC) as at Aug 10, 2018

Friday's trading range was $1.13 (1.44%), that's below last trading month's daily average range of $1.75. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being way above average.

Prices are trading close to a key support level at 76.13. Breaking below the key support level at 78.02 today, it is now likely to act as resistance going forward.

While the stock is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive. The market broke below the 20-day moving average at 77.53 today for the first time since July 18th.


Market Conditions for HSIC as at Aug 10, 2018

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