LILAK closes lower for the 2nd day in a row
Liberty Latin America Ltd. (LILAK) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, LILAK ended the week -0.23% lower at 17.15 after losing $0.07 (-0.41%) today, underperforming the S&P 500 (0.18%) ahead of tomorrow's Presidents' Day market holiday. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.
Daily Candlestick Chart (LILAK as at Feb 14, 2020):
Friday's trading range has been $0.28 (1.63%), that's below the last trading month's daily average range of $0.40. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for LILAK.
One bullish candlestick pattern matches today's price action, the Bullish Hikkake Pattern. The last time a Bullish Hikkake Pattern showed up on January 8th, LILAK gained 0.52% on the following trading day.
Prices are trading close to the key technical resistance level at 17.45 (R1).
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Selling might accelerate should prices move below the nearby swing low at 16.73 where further sell stops could get triggered. Trading close to December's low at 16.68 we might see further downside momentum if potential sell stops at the level get activated.
Among the three market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bullish Hikkake Pattern" stand out. Though it is usually interpreted as bullish, it has actually shown to be bearish for Liberty Latin. Out of 55 times, LILAK closed lower 60.00% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after 10 trading days, showing a win rate of 61.82% with an average market move of -1.12%.