VIAB rises to highest close since December 12, 2018
Viacom Inc. (VIAB) Technical Analysis Report for Jan 11, 2019 | by Techniquant Editorial Team
Moving higher for the 6th day in a row, VIAB ended the week 9.44% higher at 29.44 after edging higher $0.11 (0.38%) today on low volume, slightly outperforming the S&P 500 (-0.01%). Today's close at 29.44 marks the highest recorded closing price since December 12, 2018.
Daily Candlestick Chart (VIAB as at Jan 11, 2019):
Friday's trading range has been $0.73 (2.45%), that's below the last trading month's daily average range of $1.05. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for VIAB.
Prices are trading close to the key technical resistance level at 29.57 (R1).
While the market is experiencing a short-term uptrend, this could just be a correction, as both the medium and long-term trends are still bearish.