SCHW pops to highest close since March 22nd


Charles Schwab Corporation (SCHW) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
SCHW rallies 4.0% on high volume
SCHW pushes through key resistance level
SCHW dominated by bulls lifting the market higher throughout the day
SCHW pushes through 100-day moving average
SCHW ends the day on a bullish note closing near the high of the day
TQ Sentiment
Report Sentiment: 85% Bullish
Technical Forecast:
Overview

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 chart for SCHW
Volatility

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.

Support/Resistance

Breaking through the key resistance level at 52.74 today, it is now likely to act as support going forward.

Trend

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.

Conclusion

Even though both sentiments are bullish for the next trading day, our quantitative statistics are only bullish while the classical technical analysis metrics show a very bullish sentiment.

Market Conditions for Charles Schwab Corporation
Condition Forecast Direction Win Avg Worst Best Events
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Short Candle TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
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