AME closes lower for the 3rd day in a row
Ametek (AME) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 3rd day in a row, AME finished the week -0.9% lower at 75.88 after losing $0.78 (-1.02%) today. Today's closing price of 75.88 marks the lowest close since July 25th. Closing below Thursday's low at 76.48, the stock confirms its breakout through the prior session's low having traded $0.91 below it intraday.
Daily Candlestick Chart (AME as at Aug 10, 2018):
Friday's trading range was $0.75 (0.98%), that's below last trading month's daily average range of $1.16. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
Breaking below the key support level at 75.94 today, it is now likely to act as resistance going forward.
Ametek shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.