HUM stuck within tight trading range
Humana Inc. (HUM) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
HUM ended Thursday at 290.92 gaining $1.10 (0.38%) on low volume. Today's closing price of 290.92 marks the highest close since May 1st. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (HUM as at May 17, 2018):
Thursday's trading range was $2.72 (0.94%), that's far below last trading month's daily average range of $5.78. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 287.82 and 292.26 which it has been in now for the last three days.
Prices are trading close to a key support level at 288.63. After having been unable to move lower than 288.74 in the prior session, the stock found buyers again around the same price level today at 289.54.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 299.85, upside momentum might speed up should the market be able to break out to new highs for the year. As prices are trading close to May's high at 297.07, upside momentum could accelerate should the share mark new highs for the month.