MON closes within prior day's range after lackluster session


Technical Analysis Report for MON - May 17, 2018 [< 1 min read]
Highlights
MON closes higher for the 3rd day in a row
MON rises to highest close since May 1st
MON closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, MON ended Thursday at 125.49 edging higher $0.05 (0.04%) on low volume. Today's closing price of 125.49 marks the highest close since May 1st. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily chart for MON
Volatility

Thursday's trading range was $0.33 (0.26%), that's below last trading month's daily average range of $0.48. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Trend

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

Order Flow

Selling might accelerate should prices move below the nearby swing low at 124.76 where further sell stops could get triggered. As prices are trading close to May's high at 125.61, upside momentum might speed up should Monsanto Co. mark new highs for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
3 Consecutive Higher Closes TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
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