VFC closes within prior day's range

V.F. Corp. (VFC) Technical Analysis Report for Sep 14, 2018

Highlights

VFC dominated by bears dragging the market lower throughout the day
VFC finds buyers at key support level
VFC finds support at 50-day moving average
VFC ends the day on a bearish note closing near the low of the day
VFC closes within previous day's range

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

VFC ended the week 1.92% higher at 91.17 after edging lower $0.04 (-0.04%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for VFC

Volatility

Friday's trading range was $2.22 (2.39%), that's far above last trading month's daily average range of $1.21. Weekly volatility is also higher, being above the markets average with the monthly volatility being below average.

Support/Resistance

After trading as low as 90.75 during the day, the stock bounced off the key support level at 90.97. The failure to close below the support might increase that levels importance as support going forward. After trading as low as 90.75 during the day, the share found support at the 50-day moving average at 90.85.

Trend

Though the market is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for V.F. Corp.

Condition Forecast Direction Win Rate Exit Day Events
2 Consecutive Lower Closes TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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