KSU slips to lowest close since July 25th
Kansas City Southern (KSU) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, KSU finished the week -0.65% lower at 115.02 after losing $0.66 (-0.57%) today on low volume. Today's closing price of 115.02 marks the lowest close since July 25th. Closing below Thursday's low at 115.37, the share confirms its breakout through the previous session's low having traded $1.11 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (KSU as at Aug 10, 2018):
Friday's trading range was $1.28 (1.11%), that's below last trading month's daily average range of $2.19. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.
Prices are trading close to a key support level at 114.17.
While Kansas City is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.
Buying could speed up should prices move above the nearby swing high at 116.31 where further buy stops might get activated. Selling could accelerate should prices move below the close-by swing low at 114.17 where further sell stops might get triggered. With prices trading close to this year's high at 117.79, upside momentum could speed up should the stock be able to break out to new highs for the year.