SIG closes lower for the 2nd day in a row


Signet Jewelers (SIG) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
SIG finds buyers at key support level
SIG closes lower for the 2nd day in a row
SIG breaks below previous session low
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, SIG finished Thursday at 55.51 losing $1.58 (-2.77%). Closing below Wednesday's low at 56.61, Signet Jewelers confirms its breakout through the prior session's low having traded $2.22 below it intraday.

Daily chart for SIG
Volatility

Thursday's trading range was $2.57 (4.52%), that's above last trading month's daily average range of $1.79. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way above average.

Support/Resistance

After trading as low as 54.39 during the day, the market bounced off the key support level at 55.37. The failure to close below the support might increase that levels importance as support going forward.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

With prices trading close to this year's high at 59.10, upside momentum could speed up should the stock be able to break out to new highs for the year.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Signet Jewelers
ConditionForecastDirectionWinAvgWorstBestEvents
Down Close Near Low of Period TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close near low of period TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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