NOC finds buyers again around 320.66


Technical Analysis Report for NOC - 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
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.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Low close to previous low TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
Bullish Engulfing Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Northrop Grumman Corp. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

NATGAS 2.9580.028 0.96%
NDX 6,953.6360.01 0.87%
TBOND 142.4381.094 0.77%
DXY 93.9000.405 0.43%
SPX 2,733.298.85 0.32%
CRUDE 71.83-0.30 -0.42%
GBPUSD 1.3347-0.0083 -0.62%
EURUSD 1.1697-0.0081 -0.69%
USDJPY 110.08-0.82 -0.74%
NKY 22,437.01-252.73 -1.11%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.