UHS closes within previous day's range after lackluster session

Universal Health Services Inc. (UHS) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team


UHS closes below its opening price unable to hold early session gains
UHS unable to break through key resistance level
UHS ends the day on a bearish note closing near the low of the day
UHS closes within previous day's range after lackluster session


UHS ended the week -0.84% lower at 125.86 after edging lower $0.15 (-0.12%) today. Trading $0.95 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (UHS as at Sep 14, 2018):

Daily technical analysis candlestick chart for Universal Health Services Inc. (UHS) as at Sep 14, 2018

Friday's trading range was $1.36 (1.08%), that's below last trading month's daily average range of $1.68. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.

Unable to break through the key technical resistance level at 126.81, the stock closed below it after spiking as high as 127.12 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Although Universal Health is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Market Conditions for UHS as at Sep 14, 2018

Loading Market Conditions for UHS (Universal Health Services Inc.)...
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