WEX rises to highest close since September 18th


WEX Inc. (WEX) Technical Analysis Report for Oct 11, 2019 | by Techniquant Editorial Team

Highlights

WEX soars, gaining $5.86 (2.93%) within a single day
WEX breaks above 100-day moving average for the first time since September 20th
WEX rises to highest close since September 18th
WEX closes higher for the 3rd day in a row

Overview

Moving higher for the 3rd day in a row, WEX ended the week 3.27% higher at 206.09 after surging $5.86 (2.93%) today, notably outperforming the S&P 500 (1.09%). This is the biggest single-day gain in over three weeks. The last time we've seen such an unusually strong single-day gain on September 16th, WEX actually lost -1.37% on the following trading day. Today's close at 206.09 marks the highest recorded closing price since September 18th.

Daily Candlestick Chart (WEX as at Oct 11, 2019):

Daily technical analysis candlestick chart for WEX Inc. (WEX) as at Oct 11, 2019

Friday's trading range has been $4.27 (2.1%), that's slightly below the last trading month's daily average range of $4.92. Things look different on the weekly timeframe, where the market's trading range of the last week has been above the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for WEX.

One bullish candlestick pattern matches today's price action, the White Candle.

The stock managed to close above the 100-day moving average at 204.14 for the first time since September 20th.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Among the nine market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bullish Break through SMA 100" stand out. Its common bullish interpretation has been confirmed for WEX. Out of 60 times, WEX closed higher 63.33% 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 60.00% with an average market move of 1.03%.


Market Conditions for WEX as at Oct 11, 2019

Loading Market Conditions for WEX (WEX Inc.)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when WEX Inc. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!