VMW dominated by bulls lifting the market higher throughout the day

Vmware Inc (VMW) Technical Analysis Report for Sep 14, 2018

Highlights

VMW rallies 5.21% closing $8.05 higher
VMW pushes through key resistance level
VMW dominated by bulls lifting the market higher throughout the day
VMW closes higher for the 5th day in a row
VMW ends the day on a bullish note closing near the high of the day

TQ Sentiment

Report Sentiment: 66% Bullish
Technical Forecast:

Overview

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.

Daily chart for VMW

Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

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.

Conclusion

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 Win Rate 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...
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Latest Report:

VMW closes within previous day's range

Sep 17, 2018
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