KBR closes within previous day's range
KBR Inc. (KBR) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team
KBR finished the week 5.11% higher at 30.67 after losing $0.31 (-1.0%) today, significantly underperforming the S&P 500 (0.18%) ahead of tomorrow's Presidents' Day market holiday. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range.
Daily Candlestick Chart (KBR as at Feb 14, 2020):
Friday's trading range has been $0.62 (2.0%), that's slightly below the last trading month's daily average range of $0.66. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for KBR.
After moving higher in the previous session, the share closed lower but above the prior day's open today, forming a bearish Harami Candle.
Prices are trading close to the key technical support level at 30.28 (S1). Prices are trading close to the key technical resistance level at 31.13 (R1). After having been unable to move above 31.01 in the previous session, the stock ran into sellers again around the same price level today, failing to move higher than 31.09. The last time this happened on Wednesday, KBR actually gained 1.18% on the following trading day.
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 31.13, upside momentum could speed up should the market be able to break out to new highs for the year.