LKQ finds support at 100-day moving average

LKQ Corporation (LKQ) Technical Analysis Report for Sep 14, 2018

Highlights

LKQ finds support at 100-day moving average
LKQ falls to lowest close since July 11th
LKQ closes within previous day's range

TQ Sentiment

Report Sentiment: 40% Bullish
Technical Forecast:

Overview

LKQ finished the week -1.5% lower at 32.78 after losing $0.22 (-0.67%) today on high volume. Today's closing price of 32.78 marks the lowest close since July 11th. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.

Daily chart for LKQ

Volatility

Friday's trading range was $0.59 (1.78%), that's above last trading month's daily average range of $0.50. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 32.46. Prices are trading close to the key resistance level at 33.05. After trading as low as 32.51 during the day, the share found support at the 100-day moving average at 32.57.

Trend

LKQ Corporation shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

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 LKQ Corporation

Condition Forecast Direction Win Rate Exit Day Events
2 Consecutive Lower Closes TQ Pro Members Only
Close near low of period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bearish Break through SMA 100 TQ Pro Members Only
Strong Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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