UHS closes higher for the 2nd day in a row
Universal Health Services Inc. (UHS) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, UHS ended Thursday at 118.70 gaining $0.22 (0.19%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (UHS as at May 17, 2018):
Thursday's trading range was $1.83 (1.54%), that's slightly below last trading month's daily average range of $2.12. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.
After trading as low as 118.20 during the day, the market bounced off the key support level at 118.42. The failure to close below the support could increase that levels importance as support going forward. After trading as low as 118.20 during the day, the share found support at the 100-day moving average at 118.47.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Selling might accelerate should prices move below the close-by swing low at 117.08 where further sell stops could get activated.