RJF ends the day on a bullish note closing near the high of the day
Raymond James Financial Inc. (RJF) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving higher for the 10th day in a row, RJF ended Thursday at 98.66 surging $2.25 (2.33%) on high volume. Today's closing price of 98.66 marks the highest close since March 9th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 96.64, Raymond James confirms its breakout through the prior session's high having traded $2.11 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (RJF as at May 17, 2018):
Thursday's trading range was $2.98 (3.09%), that's far above last trading month's daily average range of $2.01. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way above average.
Breaking through the key resistance level at 97.88 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 99.26, upside momentum could accelerate should the stock be able to break out to new highs for the year.