PBI ends the day on a bearish note closing near the low of the day


Technical Analysis Report for PBI - May 17, 2018 [< 1 min read]
Highlights
PBI closes below its opening price unable to hold early session gains
PBI ends the day on a bearish note closing near the low of the day
PBI still stuck within tight trading range
PBI closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

PBI finished Thursday at 9.19 losing $0.02 (-0.22%). Trading $0.08 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for PBI
Volatility

Thursday's trading range was $0.14 (1.52%), that's below last trading month's daily average range of $0.37. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 8.94 and 9.32 which it has been in now for the last trading week.

Support/Resistance

Prices are trading close to a key support level at 9.04.

Trend

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

Order Flow

Selling could speed up should prices move below the close-by swing low at 8.94 where further sell stops might get activated.

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Close to S1 Support TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Down Close Near Low of Period 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 Pitney-Bowes 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.