VRSN dominated by bulls lifting the market higher throughout the day


Verisign Inc. (VRSN) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
VRSN pushes through key resistance level
VRSN dominated by bulls lifting the market higher throughout the day
VRSN closes higher for the 3rd day in a row
VRSN ends the day on a bullish note closing near the high of the day
VRSN pushes through previous session high
TQ Sentiment
Report Sentiment: 66% Bullish
Technical Forecast:
Overview

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 chart for VRSN
Volatility

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.

Support/Resistance

Breaking through the key resistance level at 123.14 today, it is now likely to act as support going forward.

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 127.24, upside momentum might accelerate should the share be able to break out to new highs for the year.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Market Conditions for Verisign Inc.
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing High TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Low close to previous low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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