VRSK dominated by bulls lifting the market higher throughout the day
Verisk Analytics Inc. (VRSK) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, VRSK ended the week 1.34% higher at 171.38 after gaining $0.71 (0.42%) today, slightly outperforming the Nasdaq 100 (0.29%) ahead of tomorrow's Presidents' Day market holiday. Today's close at 171.38 marks the highest recorded closing price ever. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session.
Daily Candlestick Chart (VRSK as at Feb 14, 2020):
Friday's trading range has been $1.22 (0.72%), that's far below the last trading month's daily average range of $2.18. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for VRSK.
Two candlestick patterns are matching today's price action, the Bullish Short Candle and the White Candle which are both known as bullish patterns. The last time a Bullish Short Candle showed up on January 13th, VRSK actually lost -0.72% on the following trading day.
After having been unable to move above 171.58 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 171.64.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the six market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bullish Short Candle" stand out. Its common bullish interpretation has been confirmed for Verisk Analytics. Out of 68 times, VRSK closed higher 55.88% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 57.35% with an average market move of 0.36%.