JEF drops to lowest close since July 26th


Jefferies Financial Group Inc. (JEF) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
JEF dominated by bears dragging the market lower throughout the day
JEF closes lower for the 5th day in a row
JEF ends the day on a bearish note closing near the low of the day
JEF breaks below previous session low
JEF falls to lowest close since July 26th
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

Moving lower for the 5th day in a row, JEF ended the week -3.43% lower at 23.67 after losing $0.62 (-2.55%) today on high volume. Today's closing price of 23.67 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 24.24, the stock confirms its breakout through the prior session's low having traded $0.61 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for JEF
Volatility

Friday's trading range was $0.44 (1.83%), that's slightly below last trading month's daily average range of $0.46. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Trend

While Jefferies Financial is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.

Market Conditions for Jefferies Financial Group Inc.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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