STZ breaks below 20-day moving average
Constellation Brands Inc. (STZ) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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.
Daily Candlestick Chart (STZ as at Aug 10, 2018):
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.