NOC finds buyers again around 320.66


Northrop Grumman Corp. (NOC) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
NOC closes higher for the 3rd day in a row
NOC finds buyers again around 320.66
NOC closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, NOC ended Thursday at 324.52 gaining $3.36 (1.05%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for NOC
Volatility

Thursday's trading range was $5.08 (1.58%), that's below last trading month's daily average range of $9.70. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.

Price Action

Notwithstanding a weak opening the market managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

After having been unable to move lower than 320.20 in the prior session, the share found buyers again around the same price level today at 320.66.

Trend

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 331.63 where further buy stops could get triggered. Selling might speed up should prices move below the close-by swing low at 316.37 where further sell stops could get activated.

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 Northrop Grumman Corp.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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