PBI finds buyers at key support level


Pitney-Bowes (PBI) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
PBI closes below its opening price unable to hold early session gains
PBI finds buyers at key support level
PBI closes lower for the 2nd day in a row
PBI closes within previous day's range after lackluster session
PBI ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, PBI finished the week -1.21% lower at 8.15 after losing $0.06 (-0.73%) today. Trading $0.05 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for PBI
Volatility

Friday's trading range was $0.15 (1.84%), that's below last trading month's daily average range of $0.27. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 8.07 during the day, the stock bounced off the key support level at 8.11. The failure to close below the support could increase that levels importance as support going forward.

Trend

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

Order Flow

Selling might speed up should prices move below the nearby swing low at 8.03 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 slightly bullish.

Market Conditions for Pitney-Bowes
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
High close to previous High TQ Pro Members Only
High close to previous two Highs TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

PBI ends the day indecisive

Aug 15, 2018
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