XL closes higher for the 5th day in a row


XL Capital (XL) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
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
TQ Sentiment
Report Sentiment: 28% Bearish
Technical Forecast:
Overview

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 chart for XL
Volatility

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.

Price Action

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

Support/Resistance

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.

Trend

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

Order Flow

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

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
Condition Forecast Direction Win Avg Worst Best Events
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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