VMW dominated by bulls lifting the market higher throughout the day
Vmware Inc (VMW) Technical Analysis Report for Sep 14, 2018
Moving higher for the 5th day in a row, VMW finished the week 7.06% higher at 162.65 after surging $8.05 (5.21%) today. This is the biggest single day gain in over two months. Today's closing price of 162.65 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 155.72, the stock confirms its breakout through the previous session's high having traded $7.26 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was $8.23 (5.31%), that's far above last trading month's daily average range of $3.52. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.
Breaking through the key resistance level at 156.72 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 163.00. After having been unable to move lower than 154.50 in the prior session, Vmware Inc found buyers again around the same price level today at 154.75.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 165.00, upside momentum might accelerate should the market be able to break out to new highs for the year. Trading close to July's high at 163.00 we could see further upside momentum if potential buy stops at the level get triggered.
While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Market Conditions for Vmware Inc
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Close near low of period||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Strong Down Move||TQ Pro Members Only|
|Down Close Near Low of Period||TQ Pro Members Only|
|Bounced off Technical Support S1||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Top Market Movers