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


Republic Services Inc (RSG) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
RSG pushes through key resistance level
RSG closes above its opening price after recovering from early selling pressure
RSG ends the day on a bullish note closing near the high of the day
RSG closes within previous day's range
TQ Sentiment
Technical Forecast:
Overview

RSG ended Thursday at 69.23 gaining $0.50 (0.73%) on high volume. Trading up to $0.31 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for RSG
Volatility

Thursday's trading range was $0.90 (1.31%), that's above last trading month's daily average range of $0.70. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking through the key resistance level at 69.03 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 69.67.

Trend

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

Order Flow

Buying could accelerate should prices move above the close-by swing high at 69.67 where further buy stops might get triggered.

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 Republic Services Inc
ConditionForecastDirectionWinAvgWorstBest
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

RSG closes within prior day's range

Jun 18, 2018
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