UNM ends the day indecisive
Unum Group (UNM) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving lower for the 3rd day in a row, UNM finished Thursday at 38.83 losing $0.09 (-0.23%). Today's closing price of 38.83 marks the lowest close since June 5th. Trading $0.19 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (UNM as at Jun 14, 2018):
Thursday's trading range was $0.51 (1.31%), that's below last trading month's daily average range of $0.67. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.
After having been unable to move lower than 38.69 in the prior session, the market found buyers again around the same price level today at 38.61. After trading as low as 38.61 during the day, Unum Group found support at the 20-day moving average at 38.79.
Although 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.
Selling could speed up should prices move below the nearby swing low at 37.98 where further sell stops might get triggered.