SCHW pops to highest close since September 4th

Charles Schwab Corporation (SCHW) Technical Analysis Report for Sep 14, 2018

Highlights

SCHW pushes through key resistance level
SCHW pushes through 50-day moving average
SCHW pushes through previous session high
SCHW rises to highest close since September 4th
SCHW still stuck within tight trading range

TQ Sentiment

Report Sentiment: 42% Bullish
Technical Forecast:

Overview

SCHW finished the week 1.99% higher at 51.16 after gaining $0.74 (1.47%) today. Today's closing price of 51.16 marks the highest close since September 4th. Closing above Thursday's high at 50.97, the stock confirms its breakout through the previous session's high having traded $0.59 above it intraday.

Daily chart for SCHW

Volatility

Friday's trading range was $0.97 (1.92%), that's slightly above last trading month's daily average range of $0.88. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 50.36 and 51.56 which it has been in now for the last trading week.

Support/Resistance

Breaking through the key resistance level at 50.68 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 51.70.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The share managed to break above the 50-day moving average at 51.12 today for the first time since September 4th.

Order Flow

Selling might accelerate should prices move below the close-by swing low at 50.36 where further sell stops could get triggered. Further buying might move prices higher should the market test August's nearby high at 52.61.

Conclusion

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

Market Conditions for Charles Schwab Corporation

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Latest Report:

SCHW pushes through prior session high

Sep 19, 2018
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