NXPI finds buyers at key support level


Nxp Semiconductors (NXPI) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
NXPI finds buyers at key support level
NXPI closes lower for the 3rd day in a row
NXPI runs into sellers again around 110.37
NXPI breaks below previous session low
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, NXPI ended Thursday at 106.71 losing $2.13 (-1.96%). Closing below Wednesday's low at 106.81, the stock confirms its breakout through the prior session's low having traded $3.73 below it intraday.

Daily chart for NXPI
Volatility

Thursday's trading range was $7.29 (6.64%), that's far above last trading month's daily average range of $3.19. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bearish Outside Bar. Despite a strong opening the share closed below the previous day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

After trading as low as 103.08 during the day, Nxp Semiconductors bounced off the key support level at 106.37. The failure to close below the support might increase that levels importance as support going forward. After having been unable to move above 109.80 in the prior session, the market ran into sellers again around the same price level today, failing to move higher than 110.37.

Trend

Although NXPI is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bearish sentiment for the next trading day.

Market Conditions for Nxp Semiconductors
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to Swing High TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bullish Intraday Reversal 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 Nxp Semiconductors traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 313.2627.54 9.64%
BTCUSD 6,552.78258.70 4.11%
NATGAS 2.9440.033 1.13%
GOLD 1,191.810.8 0.91%
CRUDE 65.200.47 0.73%
CAC 5,344.93-4.09 -0.08%
DAX 12,210.55-26.62 -0.22%
USDJPY 110.50-0.40 -0.36%
DXY 95.980-0.555 -0.57%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.81 0.59
0.60%
ACN 10 day candlestick chart for ACN164.89 2.00
1.23%
ADBE 10 day candlestick chart for ADBE245.70 -3.19
-1.28%
AAP 10 day candlestick chart for AAP159.72 0.23
0.14%
AES 10 day candlestick chart for AES13.94 0.07
0.50%
AET 10 day candlestick chart for AET198.86 0.39
0.20%
AFL 10 day candlestick chart for AFL46.76 0.26
0.56%
AMG 10 day candlestick chart for AMG146.59 0.30
0.21%
A 10 day candlestick chart for A64.66 -0.84
-1.28%
ABT 10 day candlestick chart for ABT64.72 0.56
0.87%