MSI pushes through key technical resistance level

Motorola Solutions Inc. (MSI) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team


MSI soars, gaining $15.33 (11.47%) within a single day
MSI pushes through key technical resistance level
MSI dominated by bulls lifting the market higher throughout the day
MSI closes higher for the 3rd day in a row
MSI pushes through Wednesday's high


Moving higher for the 3rd day in a row, MSI finished Thursday at 148.99 surging $15.33 (11.47%), notably outperforming the S&P 500 (6.24%). This is the biggest single-day gain in over a year. The last time we've seen such an unusually strong single-day gain on March 13th, MSI actually lost -6.27% on the following trading day. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 135.68, the market confirmed its breakout through the prior session high after trading up to $14.01 above it intraday.

Daily Candlestick Chart (MSI as at Mar 26, 2020):

Daily technical analysis candlestick chart for Motorola Solutions Inc. (MSI) as at Mar 26, 2020

Thursday's trading range has been $15.21 (11.23%), that's far above the last trading month's daily average range of $9.82. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently significantly higher than usual for MSI.

Two candlestick patterns are matching today's price action, the White Candle which is known as bullish pattern and one bearish pattern, the Bearish Hikkake Pattern.

Buyers managed to take out the key technical resistance level at 136.60 (now S1), which is likely to act as support going forward.

Though Motorola Solutions is experiencing a short-term uptrend, this might just be a correction, as both the medium and long-term trends are still bearish.

Among the 11 market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Price broke through Technical Resistance R1" stand out. Its common bullish interpretation has been confirmed for Motorola Solutions. Out of 269 times, MSI closed higher 56.51% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 60.59% with an average market move of 0.75%.

Market Conditions for MSI as at Mar 26, 2020

Loading Market Conditions for MSI (Motorola Solutions Inc.)...
Latest Report:

MSI finds buyers again around 125.97

Apr 03, 2020
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