NLY closes within prior day's range

Annaly Capital Management Inc (NLY) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team


NLY closes below its opening price unable to hold early session gains
NLY finds buyers at key support level
NLY closes higher for the 3rd day in a row
NLY closes within previous day's range


Moving higher for the 3rd day in a row, NLY ended Thursday at 6.34 gaining $0.39 (6.55%), slightly outperforming the S&P 500 (6.24%). Trading $0.47 higher after the open, Annaly Capital was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on Tuesday, NLY actually gained 17.82% on the following trading day. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range.

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

Daily technical analysis candlestick chart for Annaly Capital Management Inc (NLY) as at Mar 26, 2020

Thursday's trading range has been $0.77 (12.03%), that's slightly below the last trading month's daily average range of $0.80. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently notably higher than usual for NLY.

One bearish candlestick pattern matches today's price action, the Bearish Spinning Top.

After trading down to 6.10 earlier during the day, the stock bounced off the key technical support level at 6.19 (S1). The failure to close below the support might increase that levels importance as support going forward.

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

Among the four market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bounced off Technical Support S1" stand out. Its common bullish interpretation has been confirmed for Annaly Capital. Out of 451 times, NLY closed higher 55.65% of the time on the next trading day after the market condition occurred.

Market Conditions for NLY as at Mar 26, 2020

Loading Market Conditions for NLY (Annaly Capital Management Inc)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Annaly Capital Management Inc traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!