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

Highlights

UHS finds buyers at key support level
UHS finds support at 100-day moving average
UHS closes higher for the 2nd day in a row
UHS closes within previous day's range
UHS ends the day indecisive

Overview

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):

Daily technical analysis candlestick chart for Universal Health Services, Inc. (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.


Market Conditions for UHS as at May 17, 2018

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