TDG closes higher for the 5th day in a row


TransDigm Group (TDG) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
TDG rallies 3.57% closing $11.03 higher
TDG dominated by bulls lifting the market higher throughout the day
TDG finds buyers at key support level
TDG closes higher for the 5th day in a row
TDG ends the day on a bullish note closing near the high of the day
TQ Sentiment
Report Sentiment: 62% Bullish
Technical Forecast:
Overview

Moving higher for the 5th day in a row, TDG finished Monday at 320.25 surging $11.03 (3.57%). This is the biggest single day gain in over a year. Today's closing price of 320.25 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 311.70, the stock confirms its breakout through the prior session's high having traded $9.63 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for TDG
Volatility

Monday's trading range was $8.70 (2.78%), that's above last trading month's daily average range of $6.79. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being below average.

Support/Resistance

After trading as low as 312.63 during the day, TransDigm Group bounced off the key support level at 312.96. 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 321.38.

Trend

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

Order Flow

With prices trading close to this year's high at 321.38, upside momentum might speed up should the market be able to break out to new highs for the year.

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.

Market Conditions for TransDigm Group
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Low close to previous three Lows TQ Pro Members Only
Close to Swing High TQ Pro Members Only
RSI(14) above 70 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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