NBL finds buyers again around 31.77

Noble Energy Inc (NBL) Technical Analysis Report for Apr 16, 2018

Highlights

NBL finds buyers again around 31.77
NBL closes within previous day's range after lackluster session
NBL ends the day indecisive

TQ Sentiment

Report Sentiment: 20% Bullish
Technical Forecast:

Overview

NBL finished Monday at 32.00 edging lower $0.10 (-0.31%). Closing within the previous day's range, prices failed to decisively move past 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 chart for NBL

Volatility

Monday's trading range was $0.43 (1.34%), that's far below last trading month's daily average range of $0.97. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

After having been unable to move lower than 31.71 in the prior session, the market found buyers again around the same price level today at 31.77.

Trend

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

Order Flow

Buying might accelerate should prices move above the close-by swing high at 32.53 where further buy stops could get triggered. With prices trading close to this year's high at 33.33, upside momentum might speed up should the stock be able to break out to new highs for the year.

Conclusion

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

Market Conditions for Noble Energy Inc

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