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 [1 min read]
Highlights
RJF pushes through key resistance level
RJF dominated by bulls lifting the market higher throughout the day
RJF closes higher for the 10th day in a row
RJF ends the day on a bullish note closing near the high of the day
RJF pushes through previous session high
TQ Sentiment
Report Sentiment: 66% Bullish
Technical Forecast:
Overview

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 chart for RJF
Volatility

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.

Support/Resistance

Breaking through the key resistance level at 97.88 today, it is now likely to act as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

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.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Market Conditions for Raymond James Financial Inc.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
White Candle TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
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