KSU runs into sellers again around 109.86
Kansas City Southern (KSU) Technical Analysis Report for May 17, 2018
KSU finished Thursday at 108.84 edging lower $0.12 (-0.11%). Trading $1.01 higher after the open, the market was unable to hold its gains as the bears took control ending the day below 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 Candlestick Chart (KSU as at May 17, 2018):
Thursday's trading range was $1.38 (1.27%), that's far below last trading month's daily average range of $2.45. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
After moving higher in the prior session, the share closed lower but above the previous day's open today, forming a bearish Harami Candle.
Prices are trading close to a key support level at 107.92. After having been unable to move above 109.62 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 109.86. After trading as low as 108.48 during the day, Kansas City found support at the 100-day moving average at 108.56.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. KSU broke below the 50-day moving average at 108.92 today for the first time since May 15th.
Buying could speed up should prices move above the nearby swing high at 111.11 where further buy stops might get triggered. Selling could accelerate should prices move below the close-by swing low at 107.39 where further sell stops might get activated.