SCHW pops to highest close since September 4th

Charles Schwab Corporation (SCHW) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team


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


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 Candlestick Chart (SCHW as at Sep 14, 2018):

Daily technical analysis candlestick chart for Charles Schwab Corporation (SCHW) as at Sep 14, 2018

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.

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.

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.

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.

Market Conditions for SCHW as at Sep 14, 2018

Loading Market Conditions for SCHW (Charles Schwab Corporation)...
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SCHW closes within prior day's range

Jun 20, 2019
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