TAL ends the day indecisive
TAL Education Group American Depositary Shares (TAL) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team
TAL finished the week 5.55% higher at 59.12 after gaining $0.34 (0.58%) today on low volume, slightly outperforming the S&P 500 (0.18%) ahead of tomorrow's Presidents' Day market holiday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (TAL as at Feb 14, 2020):
Friday's trading range has been $0.85 (1.44%), that's far below the last trading month's daily average range of $2.45. Weekly volatility is also lower, being way below the market's average weekly trading range. The longer-term, monthly volatility is currently notably higher than usual for TAL.
Four candlestick patterns are matching today's price action, the Bearish Hikkake Pattern, the Northern Doji and the Shooting Star which are known as bearish patterns and one neutral pattern, the Doji. The last time a Shooting Star showed up on February 4th, TAL lost -3.51% on the following trading day.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the five market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bearish Hikkake Pattern" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for TAL Education. Out of 114 times, TAL closed higher 50.88% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 59.65% with an average market move of 1.53%.