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SCG unable to break through key resistance level

Technical Analysis Report for SCG - Apr 16, 2018 [< 1 min read]
SCG unable to break through key resistance level
SCG pushes through previous session high
SCG rises to highest close since April 9th
TQ Sentiment
Technical Forecast:

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 chart for SCG

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.

Order Flow

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.


While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.

Report Market Conditions
Bounced off Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
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Find out what happened when SCANA Corp traded like this in the past. See the odds for each technical pattern with expected gain and loss.


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