MAS finds buyers at key support level


Masco Corp. (MAS) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
MAS breaks key support level
MAS breaks below 100-day moving average
MAS finds buyers at key support level
MAS finds support at 50-day moving average
MAS closes lower for the 4th day in a row
TQ Sentiment
Report Sentiment: 42% Bearish
Technical Forecast:
Overview

Moving lower for the 4th day in a row, MAS ended the week -2.28% lower at 38.60 after losing $0.52 (-1.33%) today. Today's closing price of 38.60 marks the lowest close since July 25th. Closing below Thursday's low at 39.09, Masco Corp. confirms its breakout through the prior session's low having traded $0.85 below it intraday.

Daily chart for MAS
Volatility

Friday's trading range was $0.76 (1.95%), that's slightly above last trading month's daily average range of $0.72. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.

Support/Resistance

After trading as low as 38.24 during the day, the share bounced off the key support level at 38.25. The failure to close below the support could increase that levels importance as support going forward. Breaking below the key support level at 38.95 today, it is now likely to act as resistance going forward. After trading as low as 38.24 during the day, the market found support at the 50-day moving average at 38.45.

Trend

The stock shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish. MAS broke below the 100-day moving average at 38.71 today for the first time since March 14th.

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 Masco Corp.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bearish Bounce off SMA 100 TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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