UAL unable to break through key resistance level

United Continental Holdings (UAL) Technical Analysis Report for Apr 16, 2018

Highlights

UAL unable to break through key resistance level
UAL fails to close above 100-day moving average
UAL closes higher for the 3rd day in a row
UAL closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 50% Bearish
Technical Forecast:

Overview

Moving higher for the 3rd day in a row, UAL finished Monday at 67.31 gaining $0.77 (1.16%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for UAL

Volatility

Monday's trading range was $1.47 (2.2%), that's below last trading month's daily average range of $1.94. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Unable to break through the key technical resistance level at 67.51, United Continental closed below it after spiking as high as 68.18 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After spiking up to 68.18 during the day, the market found resistance at the 100-day moving average at 67.36.

Trend

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

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 United Continental Holdings

Condition Forecast Direction Win Rate Exit Day Events
Close near low of period TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
52 Week High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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