TCO ends the day on a bearish note closing near the low of the day


Taubman Centers (TCO) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
TCO ends the day on a bearish note closing near the low of the day
TCO runs into sellers again around 63.52
TCO breaks below previous session low
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

TCO finished the week -1.29% lower at 62.63 after losing $0.80 (-1.26%) today. Closing below Thursday's low at 62.79, the share confirms its breakout through the prior session's low having traded $0.32 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for TCO
Volatility

Friday's trading range was $1.05 (1.66%), that's slightly below last trading month's daily average range of $1.32. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.

Support/Resistance

After having been unable to move above 63.52 in the previous session, Taubman Centers ran into sellers again around the same price level today, failing to move higher than 63.52.

Trend

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

Order Flow

Buying might accelerate should prices move above the close-by swing high at 63.69 where further buy stops could get activated. Selling might speed up should prices move below the nearby swing low at 62.00 where further sell stops could get triggered.

Conclusion

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

Market Conditions for Taubman Centers
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

TCO closes within previous day's range

Aug 15, 2018
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