PRGO closes above its opening price after recovering from early selling pressure

Perrigo (PRGO) Technical Analysis Report for Apr 16, 2018

Highlights

PRGO pushes through key resistance level
PRGO closes above its opening price after recovering from early selling pressure
PRGO pushes through previous session high

TQ Sentiment

Report Sentiment: 75% Bullish
Technical Forecast:

Overview

PRGO ended Monday at 81.47 gaining $0.70 (0.87%). Trading up to $0.29 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 81.32, the share confirms its breakout through the previous session's high having traded $0.34 above it intraday.

Daily chart for PRGO

Volatility

Monday's trading range was $0.79 (0.97%), that's far below last trading month's daily average range of $1.96. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.

Support/Resistance

Breaking through the key resistance level at 81.42 today, it is now likely to act as support going forward.

Trend

While the market 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.

Order Flow

Selling might accelerate should prices move below the nearby swing low at 80.25 where further sell stops could get activated. With prices trading close to this year's low at 78.50, downside momentum might speed up should Perrigo break out to new lows for the year.

Conclusion

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

Market Conditions for Perrigo

Loading Market Conditions for $PRGO (Perrigo)...
Latest Report:

PRGO closes within previous day's range

Sep 21, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Perrigo traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

A 10 day candlestick chart for A 70.72 -0.41 (-0.58%)
ABBV 10 day candlestick chart for ABBV 92.26 -0.42 (-0.45%)
ABC 10 day candlestick chart for ABC 90.13 -0.93 (-1.02%)
ABMD 10 day candlestick chart for ABMD 384.88 2.90 (0.76%)
ABT 10 day candlestick chart for ABT 69.05 0.26 (0.38%)
ACAD 10 day candlestick chart for ACAD 20.17 1.06 (5.55%)
ACHC 10 day candlestick chart for ACHC 35.69 -0.31 (-0.86%)
AET 10 day candlestick chart for AET 204.27 -0.93 (-0.45%)
AGIO 10 day candlestick chart for AGIO 73.56 -0.41 (-0.55%)
AGN 10 day candlestick chart for AGN 191.31 -1.20 (-0.62%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!