WRK closes within previous day's range after lackluster session


Westrock Company (WRK) Technical Analysis Report for Oct 12, 2018 | by Techniquant Editorial Team

Highlights

WRK finds buyers again around 41.86
WRK closes within previous day's range after lackluster session

Overview

WRK ended the week -15.72% lower at 42.61 after gaining $0.66 (1.57%) today on high volume, slightly outperforming the S&P 500 (1.42%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session.

Daily Candlestick Chart (WRK as at Oct 12, 2018):

Daily technical analysis candlestick chart for Westrock Company (WRK) as at Oct 12, 2018

Friday's trading range has been $0.96 (2.25%), that's below the last trading month's daily average range of $1.33. Things look different on the weekly timeframe, where the market's trading range of the last week has been way above the market's average weekly trading range. The longer-term, monthly volatility is currently strongly higher than usual for WRK.

Four candlestick patterns are matching today's price action, the Homing Pigeon, the Southern Doji and the Takuri Line which are known as bullish patterns and one neutral pattern, the Doji. The last time a Southern Doji showed up on April 9th, WRK gained 2.48% on the following trading day.

After having been unable to move lower than 41.88 in the previous session, the share found buyers again around the same price level today at 41.86.

Crossing above the lower Bollinger Band, prices have lost at least some of their downward momentum in the short-term and could now be heading back up towards the mean of the Bollinger Bands at 51.78.

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

Among the seven market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Homing Pigeon" stand out. Its common bullish interpretation has been confirmed for Westrock Co. Out of 8 times, WRK closed higher 62.50% of the time on the next trading day after the market condition occurred.


Market Conditions for WRK as at Oct 12, 2018

Loading Market Conditions for WRK (Westrock Company)...
Latest Report:

WRK closes within previous day's range

Dec 14, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Westrock Company 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!