KSU ends the day on a bearish note closing near the low of the day


Kansas City Southern (KSU) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
KSU closes below its opening price unable to hold early session gains
KSU unable to break through key resistance level
KSU finds support at 100-day moving average
KSU closes lower for the 2nd day in a row
KSU ends the day on a bearish note closing near the low of the day
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, KSU finished Thursday at 108.66 losing $0.19 (-0.17%). Today's closing price of 108.66 marks the lowest close since June 7th. Trading $0.83 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for KSU
Volatility

Thursday's trading range was $1.46 (1.34%), that's below last trading month's daily average range of $2.15. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 108.35. Unable to break through the key technical resistance level at 109.86, Kansas City closed below it after spiking as high as 109.99 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move lower than 108.35 in the prior session, the stock found buyers again around the same price level today at 108.53. After trading as low as 108.53 during the day, the market found support at the 100-day moving average at 108.63.

Trend

Although KSU is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Selling might accelerate should prices move below the close-by swing low at 108.35 where further sell stops could get activated.

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 Kansas City Southern
ConditionForecastDirectionWinAvgWorstBest
Bearish Break through SMA 50 TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 100 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

KSU breaks below 50-day moving average

Jun 18, 2018
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