XL closes higher for the 5th day in a row

XL Capital (XL) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team


XL fails to close above 50-day moving average
XL closes higher for the 5th day in a row
XL rises to highest close since May 4th
XL closes within previous day's range
XL ends the day indecisive


Moving higher for the 5th day in a row, XL ended Thursday at 55.33 gaining $0.03 (0.05%). Today's closing price of 55.33 marks the highest close since May 4th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (XL as at May 17, 2018):

Daily technical analysis candlestick chart for XL Capital (XL) as at May 17, 2018

Thursday's trading range was $0.29 (0.52%), that's slightly below last trading month's daily average range of $0.39. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Regardless of a weak opening the stock managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Prices are trading close to the key resistance level at 55.56. After spiking up to 55.51 during the day, the market found resistance at the 50-day moving average at 55.41.

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Further buying might move prices higher should the market test April's nearby high at 55.90.

Latest Report:

XL pushes through prior session high

Sep 11, 2018

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