PRGO closes within prior day's range after lackluster session


Perrigo (PRGO) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
PRGO closes higher for the 3rd day in a row
PRGO finds buyers again around 75.46
PRGO stuck within tight trading range
PRGO closes within previous day's range after lackluster session
PRGO ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, PRGO finished Thursday at 75.86 edging higher $0.18 (0.24%) on low volume. Closing within the previous day's range, prices failed to decisively move beyond 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 PRGO
Volatility

Thursday's trading range was $0.91 (1.2%), that's below last trading month's daily average range of $2.09. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 73.90 and 76.37 which it has been in now for the last three days.

Support/Resistance

Prices are trading close to a key support level at 74.51. After having been unable to move lower than 75.40 in the previous session, Perrigo found buyers again around the same price level today at 75.46.

Trend

While the share 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.

Conclusion

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

Market Conditions for Perrigo
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Bullish Belt-hold TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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