PBI closes within previous day's range after lackluster session


Pitney-Bowes (PBI) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
PBI finds buyers again around 10.72
PBI closes within previous day's range after lackluster session
PBI ends the day indecisive
TQ Sentiment
Report Sentiment: 28% Bullish
Technical Forecast:
Overview

PBI ended Monday at 10.79 edging higher $0.05 (0.47%). Closing within the previous day's range, prices failed to decisively move past the prior 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

Monday's trading range was $0.16 (1.49%), that's below last trading month's daily average range of $0.29. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar. After moving lower in the prior session, the stock managed to close higher but below the previous day's open, forming a bullish Harami Candle.

Support/Resistance

After having been unable to move lower than 10.71 in the prior session, Pitney-Bowes found buyers again around the same price level today at 10.72.

Trend

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

Order Flow

Buying could accelerate should prices move above the nearby swing high at 11.00 where further buy stops might get triggered. Selling could speed up should prices move below the close-by swing low at 10.71 where further sell stops might get activated. As prices are trading close to April's high at 11.17, upside momentum could accelerate should the share mark new highs for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Pitney-Bowes
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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