XL closes higher for the 5th day in a row
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.
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.
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
|Close to R1 Resistance||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|High close to previous three Highs||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
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