WY closes higher for the 5th day in a row

Weyerhaeuser Company (WY) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team


WY closes above its opening price after recovering from early selling pressure
WY closes higher for the 5th day in a row
WY pushes through previous session high
WY rises to highest close since February 1st
WY ends the day indecisive


Moving higher for the 5th day in a row, WY ended Monday at 36.48 gaining $0.29 (0.8%). Today's closing price of 36.48 marks the highest close since February 1st. Trading up to $0.24 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 36.34, the market confirms its breakout through the previous session's high having traded $0.32 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (WY as at Apr 16, 2018):

Daily technical analysis candlestick chart for Weyerhaeuser Company (WY) as at Apr 16, 2018

Monday's trading range was $0.44 (1.21%), that's below last trading month's daily average range of $0.66. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.

The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

With prices trading close to this year's high at 37.54, upside momentum could speed up should WY be able to break out to new highs for the year. Trading close to February's high at 37.33 we might see further upside momentum if potential buy stops at the level get triggered.

Market Conditions for WY as at Apr 16, 2018

Loading Market Conditions for WY (Weyerhaeuser Company)...
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