VRSN dominated by bulls lifting the market higher throughout the day
VeriSign Inc. (VRSN) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, VRSN finished Monday at 123.79 gaining $1.79 (1.47%) on low volume. Today's closing price of 123.79 marks the highest close since March 21st. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 123.26, the market confirms its breakout through the prior session's high having traded $0.74 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (VRSN as at Apr 16, 2018):
Monday's trading range was $1.22 (0.99%), that's far below last trading month's daily average range of $2.81. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 123.14 today, it is now likely to act as support going forward.
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 127.24, upside momentum might accelerate should the share be able to break out to new highs for the year.