PZZA runs into sellers again around 55.50

Papa John's International, Inc. (PZZA) Technical Analysis Report for Jul 13, 2018

Highlights

PZZA closes below its opening price unable to hold early session gains
PZZA ends the day on a bearish note closing near the low of the day
PZZA runs into sellers again around 55.50
PZZA closes within previous day's range

TQ Sentiment

Report Sentiment:
50% Bearish
Technical Forecast:

Overview

PZZA ended the week 4.45% higher at 53.55 after losing $0.12 (-0.22%) today. Trading $1.78 higher after the open, Papa John's was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for PZZA

Volatility

Friday's trading range was $2.32 (4.32%), that's slightly above last trading month's daily average range of $2.03. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 53.00. After having been unable to move above 55.83 in the previous session, the stock ran into sellers again around the same price level today, failing to move higher than 55.50.

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.

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 Papa John's International, Inc.

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Latest Report:

PZZA breaks below prior session low

Sep 21, 2018
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