TDG closes higher for the 3rd day in a row

Transdigm Group Incorporated Inc. (TDG) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team


TDG dominated by bulls lifting the market higher throughout the day
TDG closes higher for the 3rd day in a row
TDG pushes through Wednesday's high


Moving higher for the 3rd day in a row, TDG finished Thursday at 402.09 gaining $52.00 (14.85%), significantly outperforming the S&P 500 (6.24%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 368.98, the stock confirmed its breakout through the previous session high after trading up to $39.78 above it intraday.

Daily Candlestick Chart (TDG as at Mar 26, 2020):

Daily technical analysis candlestick chart for Transdigm Group Incorporated Inc. (TDG) as at Mar 26, 2020

Thursday's trading range has been $52.69 (14.58%), that's above the last trading month's daily average range of $40.14. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently strongly higher than usual for TDG.

One bullish candlestick pattern matches today's price action, the White Candle. The last time a White Candle showed up on March 19th, TDG actually lost -1.07% on the following trading day.

Prices are trading close to the key technical resistance level at 441.39 (R1).

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

Among the six market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "3 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for Transdigm Group. Out of 183 times, TDG closed higher 54.10% 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 61.20% with an average market move of 0.82%.

Market Conditions for TDG as at Mar 26, 2020

Loading Market Conditions for TDG (Transdigm Group Incorporated Inc.)...
Latest Report:

TDG finds buyers again around 358.13

Mar 27, 2020
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