TWX fails to close above 100-day moving average


Time Warner Inc. (TWX) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
TWX tanks -1.39% closing $1.31 lower
Traders officially love to sell TWX against 94.37 level
TWX breaks key support level
TWX dominated by bears dragging the market lower throughout the day
TWX fails to close above 100-day moving average
TQ Sentiment
Report Sentiment: 70% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, TWX finished Thursday at 92.88 tanking $1.31 (-1.39%). This is the biggest single day loss in over three weeks. Today's closing price of 92.88 marks the lowest close since May 10th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 93.65, Time Warner confirms its breakout through the prior session's low having traded $0.87 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 TWX
Volatility

Thursday's trading range was $1.59 (1.69%), that's slightly above last trading month's daily average range of $1.29. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 92.40. Breaking below the key support level at 93.23 today, it is now likely to act as resistance going forward. The market was sold again around 94.37 after having seen highs at 94.52, 94.46 and 94.47 in the last three trading sessions. Obviously there is something going on at that level. After spiking up to 94.37 during the day, the share found resistance at the 100-day moving average at 94.35.

Trend

Though the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

With prices trading close to this year's low at 90.72, downside momentum could speed up should TWX break out to new lows for the year.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bearish sentiment for the next trading day.

Market Conditions for Time Warner Inc.
Condition Forecast Direction Win Avg Worst Best Events
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Time Warner Inc. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 313.2627.54 9.64%
BTCUSD 6,552.78258.70 4.11%
NATGAS 2.9440.033 1.13%
GOLD 1,191.810.8 0.91%
CRUDE 65.200.47 0.73%
CAC 5,344.93-4.09 -0.08%
DAX 12,210.55-26.62 -0.22%
USDJPY 110.50-0.40 -0.36%
DXY 95.980-0.555 -0.57%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.81 0.59
0.60%
ACN 10 day candlestick chart for ACN164.89 2.00
1.23%
ADBE 10 day candlestick chart for ADBE245.70 -3.19
-1.28%
AAP 10 day candlestick chart for AAP159.72 0.23
0.14%
AES 10 day candlestick chart for AES13.94 0.07
0.50%
AET 10 day candlestick chart for AET198.86 0.39
0.20%
AFL 10 day candlestick chart for AFL46.76 0.26
0.56%
AMG 10 day candlestick chart for AMG146.59 0.30
0.21%
A 10 day candlestick chart for A64.66 -0.84
-1.28%
ABT 10 day candlestick chart for ABT64.72 0.56
0.87%