TROW dominated by bulls lifting the market higher throughout the day

T. Rowe Price Group (TROW) Technical Analysis Report for Sep 14, 2018

Highlights

TROW dominated by bulls lifting the market higher throughout the day
TROW rises to highest close since September 6th
TROW still stuck within tight trading range
TROW closes within previous day's range

TQ Sentiment

Report Sentiment: 22% Bullish
Technical Forecast:

Overview

TROW finished the week 2.45% higher at 110.37 after gaining $1.20 (1.1%) today. Today's closing price of 110.37 marks the highest close since September 6th. 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.

Daily chart for TROW

Volatility

Friday's trading range was $1.47 (1.35%), that's slightly below last trading month's daily average range of $1.84. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 108.00 and 111.35 which it has been in now for the last trading week.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 108.92. Prices are trading close to the key resistance level at 111.35.

Trend

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Buying could speed up should prices move above the close-by swing high at 111.35 where further buy stops might get activated. Selling could accelerate should prices move below the nearby swing low at 108.92 where further sell stops might get triggered.

Conclusion

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

Market Conditions for T. Rowe Price Group

Condition Forecast Direction Win Rate Exit Day Events
Close near low of period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bearish Outside Bar TQ Pro Members Only
High close to previous High TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

TROW breaks below prior session low

Sep 17, 2018
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