HSIC fails to close above 100-day moving average

Henry Schein (HSIC) Technical Analysis Report for Apr 16, 2018

Highlights

HSIC unable to break through key resistance level
HSIC fails to close above 100-day moving average
HSIC rises to highest close since February 12th
HSIC closes within previous day's range
HSIC ends the day indecisive

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

HSIC finished Monday at 69.94 gaining $0.96 (1.39%). Today's closing price of 69.94 marks the highest close since February 12th. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for HSIC

Volatility

Monday's trading range was $2.05 (2.96%), that's slightly above last trading month's daily average range of $1.85. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Price Action

After moving lower in the prior session, Henry Schein managed to close higher but below the previous day's open, forming a bullish Harami Candle.

Support/Resistance

Prices are trading close to a key support level at 68.70. Unable to break through the key technical resistance level at 70.81, the stock closed below it after spiking as high as 70.86 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After spiking up to 70.86 during the day, the share found resistance at the 100-day moving average at 70.12.

Trend

The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Selling could accelerate should prices move below the nearby swing low at 68.44 where further sell stops might get activated.

Conclusion

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

Market Conditions for Henry Schein

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Latest Report:

HSIC closes within previous day's range

Sep 21, 2018
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