NLSN closes higher for the 2nd day in a row
Nielsen N.V. (NLSN) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, NLSN finished the month 6.98% higher at 14.86 after gaining $0.17 (1.16%) today, slightly underperforming the S&P 500 (1.54%). Trading up to $0.27 lower after the open, Nielsen N. V. managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on June 4th, NLSN gained 1.94% on the following trading day. Closing above Monday's high at 14.73, the market confirmed its breakout through the prior session high after trading up to $0.21 above it intraday.
Daily Candlestick Chart (NLSN as at Jun 30, 2020):
Tuesday's trading range has been $0.56 (3.82%), that's below the last trading month's daily average range of $0.70. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for NLSN.
The stock shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.
Buying could accelerate should prices move above the nearby swing high at 14.99 where further buy stops might get triggered.
Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Bullish Intraday Reversal" stand out. Its common bullish interpretation has been confirmed for Nielsen N. V.. Out of 403 times, NLSN closed higher 51.61% 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 two trading days, showing a win rate of 55.09% with an average market move of 0.16%.