STZ breaks below 20-day moving average
STZ finished the week -0.33% lower at 213.30 after losing $1.48 (-0.69%) today. Trading $0.81 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Friday's trading range was $1.90 (0.89%), that's below last trading month's daily average range of $3.25. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.
Prices are trading close to a key support level at 211.35. After having been unable to move lower than 213.00 in the prior session, Constellation Brands found buyers again around the same price level today at 212.91.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The share broke below the 20-day moving average at 213.46 today for the first time since June 29th.
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 Constellation Brands
|Down Close Near Low of Period||TQ Pro Members Only|
|2 Consecutive Lower Closes||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Black Candle||TQ Pro Members Only|
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