SHPG closes within previous day's range after lackluster session


Shire plc (SHPG) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
SHPG finds buyers again around 169.83
SHPG closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 25% Bullish
Technical Forecast:
Overview

SHPG ended Thursday at 171.65 losing $1.48 (-0.85%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for SHPG
Volatility

Thursday's trading range was $2.12 (1.24%), that's below last trading month's daily average range of $3.32. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

After having been unable to move lower than 169.78 in the prior session, the market found buyers again around the same price level today at 169.83.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 173.60 where further buy stops might get activated. With prices trading close to this year's high at 177.51, upside momentum could speed up should the share be able to break out to new highs for the year.

Conclusion

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

Market Conditions for Shire plc
Condition Forecast Direction Win Avg Worst Best Events
3 Consecutive Lower Closes TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

SHPG breaks key support level

Aug 14, 2018
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