KLAC breaks below prior session low


KLA-Tencor Corp. (KLAC) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
KLAC breaks key support level
KLAC closes lower for the 2nd day in a row
KLAC breaks below previous session low
KLAC falls to lowest close since July 30th
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, KLAC finished the week -4.48% lower at 114.23 after losing $2.54 (-2.18%) today. Today's closing price of 114.23 marks the lowest close since July 30th. Closing below Thursday's low at 116.62, the share confirms its breakout through the previous session's low having traded $3.41 below it intraday.

Daily chart for KLAC
Volatility

Friday's trading range was $3.05 (2.65%), that's slightly below last trading month's daily average range of $3.06. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average.

Support/Resistance

Prices are trading close to a key support level at 112.08. Breaking below the key support level at 114.66 today, it is now likely to act as resistance going forward.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for KLA-Tencor Corp.
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
3 Consecutive Lower Closes TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Black Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

KLAC finds buyers again around 111.88

Aug 16, 2018
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