SPGI unable to break through key resistance level


S&P Global, Inc. (SPGI) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
SPGI unable to break through key resistance level
SPGI closes within previous day's range
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

SPGI ended the week 1.64% higher at 201.32 after gaining $0.37 (0.18%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.

Daily chart for SPGI
Volatility

Friday's trading range was $2.18 (1.09%), that's slightly below last trading month's daily average range of $3.11. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.

Support/Resistance

Unable to break through the key technical resistance level at 201.34, the market closed below it after spiking as high as 201.93 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

Although S&P Global, is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Buying could speed up should prices move above the close-by swing high at 203.19 where further buy stops might get activated.

Conclusion

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

Market Conditions for S&P Global, Inc.
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
High close to previous High TQ Pro Members Only
High close to previous two Highs TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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