KEY runs into sellers again around 11.68
KeyCorp (KEY) Technical Analysis Report for Mar 27, 2020 | by Techniquant Editorial Team
KEY ended the week 21.87% higher at 11.20 after edging lower $0.26 (-2.27%) today, but still strongly outperforming the S&P 500 (-3.37%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.
Daily Candlestick Chart (KEY as at Mar 27, 2020):
Friday's trading range has been $0.98 (9.14%), that's below the last trading month's daily average range of $1.22. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for KEY.
Prices are trading close to the key technical resistance level at 12.07 (R1). After having been unable to move above 11.59 in the previous session, the share ran into sellers again around the same price level today, missing to move higher than 11.68. The last time this happened on March 20th, KEY lost -6.86% on the following trading day.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.