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KLAC pushes through 100-day moving average


Technical Analysis Report for KLAC - Apr 16, 2018 [1 min read]
Highlights
KLAC finds buyers around 107.20 for the third day in a row
KLAC closes above its opening price after recovering from early selling pressure
KLAC pushes through 100-day moving average
KLAC fails to close above 20-day moving average
KLAC still stuck within tight trading range
TQ Sentiment
Technical Forecast:
Overview

KLAC ended Monday at 108.85 gaining $1.26 (1.17%) on low volume. Trading up to $1.46 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for KLAC
Volatility

Monday's trading range was $2.38 (2.19%), that's far below last trading month's daily average range of $4.13. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 105.69 and 110.25 which it has been in now for the last trading week.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. After moving lower in the previous session, the stock managed to close higher but below the prior day's open, forming a bullish Harami Candle.

Support/Resistance

Prices are trading close to the key resistance level at 110.25. The share found buyers again today around 107.20 for the third trading day in a row after having found demand at 106.97 in the previous session and at 107.06 two days ago. After spiking up to 109.58 during the day, KLAC found resistance at the 20-day moving average at 109.43.

Trend

The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The stock managed to break above the 100-day moving average at 108.83 today for the first time since April 12th.

Order Flow

Buying might speed up should prices move above the nearby swing high at 110.25 where further buy stops could get activated. Selling might accelerate should prices move below the close-by swing low at 106.97 where further sell stops could get triggered. As prices are trading close to April's high at 111.60, upside momentum might speed up should the share mark new highs for the month. As prices are trading close to April's low at 103.54, downside momentum could accelerate should KLAC mark new lows for the month.

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bearish Bounce off SMA 20 TQ Pro Members Only
Bullish Break through SMA 100 TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Bullish Harami Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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