WY closes higher for the 2nd day in a row
Weyerhaeuser Company (WY) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, WY finished Thursday at 36.29 gaining $0.16 (0.44%). Trading up to $0.17 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Wednesday's high at 36.24, the market confirms its breakout through the previous session's high having traded $0.12 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 May 17, 2018):
Thursday's trading range was $0.30 (0.83%), that's far below last trading month's daily average range of $0.51. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.
Though Weyerhaeuser Corp. is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.