VRSK runs into sellers again around 110.30
Moving higher for the 3rd day in a row, VRSK finished Thursday at 109.97 gaining $0.27 (0.25%). Today's closing price of 109.97 marks the highest close since Inception. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Thursday's trading range was $1.23 (1.12%), that's slightly below last trading month's daily average range of $1.32. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average. Prices continued to consolidate within a tight trading range between 108.80 and 110.30 which it has been in now for the last trading week.
In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bearish Outside Bar.
After having been unable to move above 110.26 in the prior session, the market ran into sellers again around the same price level today, failing to move higher than 110.30.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling could speed up should prices move below the nearby swing low at 108.80 where further sell stops might get activated.
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 Verisk Analytics
|3 Consecutive Lower Closes||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Bounced off Technical Support S1||TQ Pro Members Only|
|RSI(2) below 20||TQ Pro Members Only|
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