AIT pops to highest close since Inception

Applied Industrial Technologies, Inc. (AIT) Technical Analysis Report for Sep 14, 2018

Highlights

AIT closes higher for the 6th day in a row
AIT pushes through previous session high
AIT rises to highest close since Inception

TQ Sentiment

Report Sentiment: 33% Bullish
Technical Forecast:

Overview

Moving higher for the 6th day in a row, AIT finished the week 4.05% higher at 79.65 after gaining $0.35 (0.44%) today. Today's closing price of 79.65 marks the highest close since Inception. Closing above Thursday's high at 79.55, the share confirms its breakout through the prior session's high having traded $0.80 above it intraday.

Daily chart for AIT

Volatility

Friday's trading range was $1.10 (1.39%), that's slightly below last trading month's daily average range of $1.19. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.

Trend

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

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 Applied Industrial Technologies, Inc.

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