WM runs into sellers again around 83.58
Moving higher for the 3rd day in a row, WM finished Monday at 83.38 gaining $0.31 (0.37%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Monday's trading range was $0.75 (0.9%), that's far below last trading month's daily average range of $1.31. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 82.60 and 83.69 which it has been in now for the last three days.
Prices are trading close to a key support level at 82.72. Prices are trading close to the key resistance level at 84.04. After having been unable to move above 83.43 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 83.58.
Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Selling might speed up should prices move below the close-by swing low at 82.60 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Report Market Conditions
|High close to previous High||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|3 Consecutive Higher Closes||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Stocks Top Movers