SCG unable to break through key resistance level


SCANA Corporation (SCG) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team

Highlights

SCG unable to break through key resistance level
SCG pushes through previous session high
SCG rises to highest close since April 9th

Overview

SCG finished Monday at 36.61 gaining $0.71 (1.98%). Today's closing price of 36.61 marks the highest close since April 9th. Closing above Friday's high at 36.37, the stock confirms its breakout through the previous session's high having traded $0.80 above it intraday.

Daily Candlestick Chart (SCG as at Apr 16, 2018):

Daily technical analysis candlestick chart for SCANA Corporation (SCG) as at Apr 16, 2018

Monday's trading range was $1.10 (3.05%), that's slightly below last trading month's daily average range of $1.30. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Unable to break through the key technical resistance level at 36.76, the share closed below it after spiking as high as 37.17 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

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

Selling might accelerate should prices move below the close-by swing low at 35.68 where further sell stops could get triggered. With prices trading close to this year's low at 34.24, downside momentum might speed up should the market break out to new lows for the year. Further selling could move prices lower should the market test March's nearby low at 35.36.


Market Conditions for SCG as at Apr 16, 2018

Loading Market Conditions for SCG (SCANA Corporation)...
Latest Report:

SCG plunges -4.02% closing $2.05 lower

Dec 17, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when SCANA Corporation traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!