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


Pitney-Bowes (PBI) Technical Analysis Report for 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
Report Sentiment: 33% Bearish
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.

Market Conditions for Pitney-Bowes
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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