SCG closes lower for the 4th day in a row
SCANA Corp (SCG) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 4th day in a row, SCG finished the week -9.73% lower at 38.02 after losing $0.26 (-0.68%) today. Today's closing price of 38.02 marks the lowest close since June 27th. Trading $0.28 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 38.19, the stock confirms its breakout through the previous session's low having traded $0.31 below it intraday.
Daily Candlestick Chart (SCG as at Aug 10, 2018):
Friday's trading range was $0.66 (1.73%), that's far below last trading month's daily average range of $1.14. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 37.76.
SCANA Corp shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.
Further selling might move prices lower should the market test July's nearby low at 37.76.