KLAC breaks below prior session low
KLA-Tencor Corporation (KLAC) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (KLAC as at Aug 10, 2018):
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.
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.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.