STZ closes above its opening price after recovering from early selling pressure


Constellation Brands (STZ) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
STZ closes above its opening price after recovering from early selling pressure
STZ fails to close above 100-day moving average
STZ finds buyers again around 221.10
STZ rises to highest close since May 7th
STZ closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 25% Bullish
Technical Forecast:
Overview

STZ ended Thursday at 222.15 gaining $0.69 (0.31%). Today's closing price of 222.15 marks the highest close since May 7th. Trading up to $0.69 lower after the open, the stock 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 past 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.

Daily chart for STZ
Volatility

Thursday's trading range was $1.96 (0.88%), that's far below last trading month's daily average range of $3.42. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Support/Resistance

After having been unable to move lower than 221.23 in the previous session, the market found buyers again around the same price level today at 221.10. After spiking up to 223.06 during the day, Constellation Brands found resistance at the 100-day moving average at 222.51.

Trend

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

Order Flow

Buying might accelerate should prices move above the nearby swing high at 224.19 where further buy stops could get activated. Selling might speed up should prices move below the close-by swing low at 219.98 where further sell stops could get triggered.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Constellation Brands
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Strong Up Move TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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