NBL closes within prior day's range after lackluster session
Noble Energy Inc. (NBL) Technical Analysis Report for Jul 06, 2020 | by Techniquant Editorial Team
NBL ended Monday at 9.45 edging lower $0.10 (-1.05%), notably underperforming the S&P 500 (1.59%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session.
Daily Candlestick Chart (NBL as at Jul 06, 2020):
Monday's trading range has been $0.65 (6.61%), that's below the last trading month's daily average range of $0.75. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for NBL.
One bearish candlestick pattern matches today's price action, the Black Candle. The last time a Black Candle showed up on June 29th, NBL actually gained 3.58% on the following trading day.
The stock shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.