SEE pushes through prior session high
Sealed Air Corp.(New) (SEE) Technical Analysis Report for Sep 14, 2018
Moving higher for the 3rd day in a row, SEE finished the week 3.35% higher at 41.60 after gaining $0.37 (0.9%) today. Today's closing price of 41.60 marks the highest close since August 6th. Closing above Thursday's high at 41.31, the stock confirms its breakout through the previous session's high having traded $0.48 above it intraday.
Friday's trading range was $0.67 (1.63%), that's slightly above last trading month's daily average range of $0.60. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being below average.
Though Sealed Air is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. The market managed to break above the 50-day moving average at 41.34 today for the first time since July 27th.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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