SWN finds buyers at key support level

Southwestern Energy Company (SWN) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team


SWN dominated by bulls lifting the market higher throughout the day
SWN finds buyers at key support level
SWN ends the day on a bullish note closing near the high of the day
SWN finds buyers again around 5.38
SWN rises to highest close since July 9th


SWN ended the week 9.23% higher at 5.56 after gaining $0.14 (2.58%) today. Today's closing price of 5.56 marks the highest close since July 9th. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (SWN as at Aug 10, 2018):

Daily technical analysis candlestick chart for Southwestern Energy Company (SWN) as at Aug 10, 2018

Friday's trading range was $0.22 (4.07%), that's slightly above last trading month's daily average range of $0.19. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.

After trading as low as 5.38 during the day, the share bounced off the key support level at 5.39. The failure to close below the support could increase that levels importance as support going forward. Prices are trading close to the key resistance level at 5.66. After having been unable to move lower than 5.38 in the prior session, the stock found buyers again around the same price level today at 5.38.

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

Further buying might move prices higher should the market test July's nearby high at 5.66.

Market Conditions for SWN as at Aug 10, 2018

Loading Market Conditions for SWN (Southwestern Energy Company)...
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