AME closes lower for the 3rd day in a row

AMETEK Inc. (AME) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team


AME breaks key support level
AME closes lower for the 3rd day in a row
AME breaks below previous session low
AME falls to lowest close since July 25th


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):

Daily technical analysis candlestick chart for AMETEK Inc. (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.

Market Conditions for AME as at Aug 10, 2018

Loading Market Conditions for AME (AMETEK Inc.)...
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