A falls to lowest close since June 17th
Agilent Technologies Inc. (A) Technical Analysis Report for Jul 12, 2019 | by Techniquant Editorial Team
Moving lower for the 6th day in a row, A ended the week -5.41% lower at 71.65 after edging lower $0.09 (-0.13%) today, underperforming the S&P 500 (0.46%). Today's close at 71.65 marks the lowest recorded closing price since June 17th. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range.
Daily Candlestick Chart (A as at Jul 12, 2019):
Friday's trading range has been $1.44 (2.02%), that's slightly above the last trading month's daily average range of $1.24. Weekly volatility is also higher, being above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for A.
One bullish candlestick pattern matches today's price action, the Bullish Spinning Top.
Unable to break through the key technical resistance level at 72.26 (R1), the market closed below it after spiking up to 72.27 earlier during the day. The failure to close above the resistance could increase that levels importance going forward. When prices bounced off a significant resistance level the last time on June 7th, A actually gained 1.11% on the following trading day.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.