XL closes below its opening price unable to hold early session gains


XL Capital (XL) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
XL closes below its opening price unable to hold early session gains
XL finds buyers at key support level
XL closes within previous day's range
XL ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

XL ended Monday at 55.50 flat on low volume. Trading $0.07 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for XL
Volatility

Monday's trading range was $0.17 (0.31%), that's slightly below last trading month's daily average range of $0.21. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Support/Resistance

After trading as low as 55.44 during the day, the stock bounced off the key support level at 55.49. The failure to close below the support might increase that levels importance as support going forward.

Trend

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

Order Flow

Buying could speed up should prices move above the close-by swing high at 55.63 where further buy stops might get activated. Selling could accelerate should prices move below the nearby swing low at 55.24 where further sell stops might get triggered. As prices are trading close to April's high at 55.63, upside momentum could speed up should the share mark new highs for the month.

Conclusion

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

Market Conditions for XL Capital
ConditionForecastDirectionWinAvgWorstBestEvents
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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