MCO stuck within tight trading range

Moody's Corporation (MCO) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team


MCO finds buyers at key support level
MCO finds buyers again around 170.57
MCO stuck within tight trading range
MCO closes within previous day's range after lackluster session
MCO ends the day indecisive


MCO ended Thursday at 171.54 edging lower $0.70 (-0.41%). Closing within the previous day's range, prices failed to decisively move beyond the prior 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 (MCO as at May 17, 2018):

Daily technical analysis candlestick chart for Moody's Corporation (MCO) as at May 17, 2018

Thursday's trading range was $2.09 (1.21%), that's below last trading month's daily average range of $3.09. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 169.85 and 173.07 which it has been in now for the last three days.

After moving higher in the previous session, Moody's Corp closed lower but above the prior day's open today, forming a bearish Harami Candle.

After trading as low as 170.57 during the day, the stock bounced off the key support level at 171.05. The failure to close below the support could increase that levels importance as support going forward. After having been unable to move lower than 170.73 in the previous session, the market found buyers again around the same price level today at 170.57.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Buying might speed up should prices move above the close-by swing high at 173.07 where further buy stops could get activated. Selling might accelerate should prices move below the nearby swing low at 169.85 where further sell stops could get triggered.

Market Conditions for MCO as at May 17, 2018

Loading Market Conditions for MCO (Moody's Corporation)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Moody's Corporation traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!