WIX rises to highest close since September 28, 2018
Wix.com Ltd. (WIX) Technical Analysis Report for Feb 13, 2019 | by Techniquant Editorial Team
Moving higher for the 4th day in a row, WIX finished Wednesday at 119.41 surging $3.28 (2.82%) on high volume, notably outperforming the S&P 500 (0.3%). Today's close at 119.41 marks the highest recorded closing price since September 28, 2018.
Daily Candlestick Chart (WIX as at Feb 13, 2019):
Wednesday's trading range has been $5.03 (4.3%), that's far above the last trading month's daily average range of $3.07. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for WIX.
With another close above the upper Bollinger Band, prices are confirming their strong upward momentum in the short-term. A drop back into the Bollinger Band on the next trading day though could signal a potential change in momentum that might lead to a correction back down towards the center of the Bollinger Bands at 107.87.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
2018's high at 121.45 is within reach and we could see further upside momentum should the share manage to break out beyond.
Among the three market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close above the upper Bollinger Band" stand out. Its common bullish interpretation has been confirmed for Wix. com Ltd.. Out of 89 times, WIX closed higher 53.93% 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 68.54% with an average market move of 3.03%.