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WY closes higher for the 2nd day in a row


Technical Analysis Report for WY - May 17, 2018 [< 1 min read]
Highlights
WY closes above its opening price after recovering from early selling pressure
WY closes higher for the 2nd day in a row
WY pushes through previous session high
WY ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

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 chart for WY
Volatility

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.

Trend

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
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