NBL fails to close above 20-day moving average

Noble Energy Inc (NBL) Technical Analysis Report for Sep 14, 2018

Highlights

NBL fails to close above 20-day moving average
NBL pushes through previous session high
NBL rises to highest close since September 5th

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

NBL ended the week 1.03% higher at 29.38 after gaining $0.22 (0.75%) today. Today's closing price of 29.38 marks the highest close since September 5th. Closing above Thursday's high at 29.31, the stock confirms its breakout through the previous session's high having traded $0.28 above it intraday.

Daily chart for NBL

Volatility

Friday's trading range was $0.42 (1.44%), that's far below last trading month's daily average range of $0.76. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Support/Resistance

After spiking up to 29.59 during the day, the market found resistance at the 20-day moving average at 29.46.

Trend

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

Order Flow

Buying could speed up should prices move above the nearby swing high at 29.80 where further buy stops might get activated. Selling could accelerate should prices move below the close-by swing low at 28.71 where further sell stops might get triggered. Further selling could move prices lower should the market test August's nearby low at 28.46.

Conclusion

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

Market Conditions for Noble Energy Inc

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