VFC closes within prior day's range
V.F. Corporation (VFC) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (VFC as at Sep 14, 2018):
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.
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.
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.