STT closes above its opening price after recovering from early selling pressure
STT finished Thursday at 101.24 gaining $0.14 (0.14%). Trading up to $0.79 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Thursday's trading range was $1.50 (1.48%), that's below last trading month's daily average range of $1.98. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar.
Prices are trading close to the key resistance level at 102.06. After spiking up to 101.81 during the day, the stock found resistance at the 50-day moving average at 101.40.
State Street shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Buying could accelerate should prices move above the close-by swing high at 103.15 where further buy stops might get triggered. Further buying could move prices higher should the market test April's nearby high at 104.33.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Report Market Conditions
|Bearish Bounce off SMA 50||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
|Bullish Outside Bar||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
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