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HSY closes higher for the 2nd day in a row


Technical Analysis Report for HSY - Apr 16, 2018 [1 min read]
Highlights
HSY unable to break through key resistance level
HSY closes higher for the 2nd day in a row
HSY finds buyers again around 95.46
HSY pushes through previous session high
HSY rises to highest close since April 9th
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, HSY ended Monday at 96.80 gaining $0.84 (0.88%). Today's closing price of 96.80 marks the highest close since April 9th. Closing above Friday's high at 96.29, the share confirms its breakout through the prior session's high having traded $0.89 above it intraday.

Daily chart for HSY
Volatility

Monday's trading range was $1.72 (1.8%), that's slightly below last trading month's daily average range of $1.89. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 95.10 and 97.96 which it has been in now for the last trading week.

Support/Resistance

Unable to break through the key technical resistance level at 96.97, the market closed below it after spiking as high as 97.18 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move lower than 95.36 in the previous session, the stock found buyers again around the same price level today at 95.46.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Selling might accelerate should prices move below the close-by swing low at 95.10 where further sell 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 bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Low close to previous low TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

HSY closes within previous day's range

Apr 24, 2018
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