VRSN unable to break through key resistance level
VRSN ended the week 1.27% higher at 152.92 after losing $0.43 (-0.28%) today. 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.
Friday's trading range was $2.34 (1.54%), that's slightly below last trading month's daily average range of $3.03. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 150.72 and 154.65 which it has been in now for the last trading week.
Unable to break through the key technical resistance level at 153.51, the share closed below it after spiking as high as 154.65 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move lower than 152.22 in the prior session, Verisign Inc. found buyers again around the same price level today at 152.31.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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 Verisign Inc.
|Down Close Near Low of Period||TQ Pro Members Only|
|3 Consecutive Lower Closes||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Black Candle||TQ Pro Members Only|
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