STT declines to lowest close since June 6, 2017


State Street Corp. (STT) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
STT breaks key support level
STT closes lower for the 3rd day in a row
STT breaks below previous session low
STT falls to lowest close since June 6, 2017
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, STT ended the week -3.33% lower at 83.99 after losing $1.81 (-2.11%) today. Today's closing price of 83.99 marks the lowest close since June 6, 2017. Closing below Thursday's low at 85.67, the stock confirms its breakout through the previous session's low having traded $2.15 below it intraday.

Daily chart for STT
Volatility

Friday's trading range was $1.31 (1.55%), that's slightly below last trading month's daily average range of $1.46. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking below the key support level at 84.56 today, it is now likely to act as resistance going forward.

Trend

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

Conclusion

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

Market Conditions for State Street Corp.
Condition Forecast Direction Win Avg Worst Best Events
White Candle TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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