SCHW pops to highest close since March 22nd
Charles Schwab Corporation (SCHW) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
SCHW ended Monday at 53.08 surging $2.04 (4.0%) on high volume. This is the biggest single day gain in over four months. Today's closing price of 53.08 marks the highest close since March 22nd. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 52.60, the share confirms its breakout through the prior session's high having traded $0.59 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (SCHW as at Apr 16, 2018):
Monday's trading range was $1.39 (2.67%), that's slightly below last trading month's daily average range of $1.57. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 52.74 today, it is now likely to act as support going forward.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The market managed to break above the 100-day moving average at 52.27 today for the first time since April 4th.