SWN finds buyers at key support level


Southwestern Energy (SWN) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
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
TQ Sentiment
Report Sentiment: 57% Bullish
Technical Forecast:
Overview

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 chart for SWN
Volatility

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.

Support/Resistance

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.

Trend

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

Order Flow

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

Conclusion

While classical technical analysis indicates a slightly bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Southwestern Energy
Condition Forecast Direction Win Avg Worst Best Events
Southern Doji TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Doji TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
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