WLTW climbs to highest close since March 5th
Willis Towers Watson Public Limited Company (WLTW) Technical Analysis Report for Apr 16, 2019 | by Techniquant Editorial Team
Moving higher for the 5th day in a row, WLTW finished Tuesday at 181.21 gaining $0.47 (0.26%) on low volume, slightly outperforming the S&P 500 (0.05%). Today's close at 181.21 marks the highest recorded closing price since March 5th. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (WLTW as at Apr 16, 2019):
Tuesday's trading range has been $1.05 (0.58%), that's far below the last trading month's daily average range of $2.27. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for WLTW.
One bearish candlestick pattern matches today's price action, the Bearish Spinning Top. The last time a Bearish Spinning Top showed up on April 12th, WLTW actually gained 0.01% on the following trading day.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could accelerate should prices move above the close-by swing high at 181.89 where further buy stops might get activated.
Among the three market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Close to Swing High" stand out. Though it is usually interpreted as neutral, it has actually shown to be bullish for Willis Towers. Out of 797 times, WLTW closed higher 53.07% 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 52.95% with an average market move of 0.34%.