WHR pushes through 20-day moving average
Whirlpool Corporation (WHR) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
WHR ended Monday at 153.57 surging $4.98 (3.35%). This is the biggest single day gain in over a month. Today's closing price of 153.57 marks the highest close since March 22nd. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 150.87, the stock confirms its breakout through the prior session's high having traded $3.31 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 (WHR as at Apr 16, 2018):
Monday's trading range was $4.46 (2.97%), that's far above last trading month's daily average range of $3.01. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
After trading as low as 149.72 during the day, the market bounced off the key support level at 150.22. The failure to close below the support might increase that levels importance as support going forward.
Although the share is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. WHR managed to break above the 20-day moving average at 152.16 today for the first time since February 15th.