NRG dominated by bulls lifting the market higher throughout the day


NRG Energy (NRG) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
NRG rallies 1.96% closing $0.59 higher
NRG dominated by bulls lifting the market higher throughout the day
NRG pushes through 20-day moving average
NRG unable to break through key resistance level
NRG closes higher for the 2nd day in a row
TQ Sentiment
Report Sentiment: 57% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, NRG finished Monday at 30.72 surging $0.59 (1.96%). This is the biggest single day gain in over a month. Today's closing price of 30.72 marks the highest close since March 15th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 30.38, the market confirms its breakout through the previous session's high having traded $0.52 above it intraday.

Daily chart for NRG
Volatility

Monday's trading range was $0.67 (2.21%), that's slightly above last trading month's daily average range of $0.66. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Support/Resistance

Unable to break through the key technical resistance level at 30.83, the stock closed below it after spiking as high as 30.90 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. NRG Energy managed to break above the 20-day moving average at 30.30 today for the first time since April 9th.

Order Flow

With prices trading close to this year's high at 31.15, upside momentum might accelerate should the share be able to break out to new highs for the year. As prices are trading close to April's low at 29.82, downside momentum could speed up should NRG mark new lows for the month.

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.

Market Conditions for NRG Energy
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 50 TQ Pro Members Only
High close to previous High TQ Pro Members Only
5 Consecutive Higher Closes TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Close above the upper Bollinger Band TQ Pro Members Only
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