TROW finds support at 100-day moving average


T. Rowe Price Group (TROW) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
TROW pushes through 100-day moving average
TROW finds support at 100-day moving average
TROW stuck within tight trading range
TROW closes within previous day's range after lackluster session
TROW ends the day indecisive
TQ Sentiment
Report Sentiment: 22% Bullish
Technical Forecast:
Overview

TROW ended Monday at 107.95 gaining $0.84 (0.78%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for TROW
Volatility

Monday's trading range was $1.39 (1.29%), that's far below last trading month's daily average range of $3.03. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 106.41 and 109.15 which it has been in now for the last three days.

Price Action

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

Support/Resistance

Prices are trading close to the key resistance level at 109.04. After trading as low as 107.06 during the day, the market found support at the 100-day moving average at 107.65.

Trend

The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The stock managed to break above the 100-day moving average at 107.65 today for the first time since April 12th.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 109.15 where further buy stops could get activated. Selling might speed up should prices move below the nearby swing low at 105.11 where further sell stops could 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
ConditionForecastDirectionWinAvgWorstBestEvents
Close to S1 Support TQ Pro Members Only
Bearish Break through SMA 20 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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TROW breaks below 50-day moving average

Jul 13, 2018
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