AME closes higher for the 5th day in a row
Ametek (AME) Technical Analysis Report for Sep 14, 2018
Moving higher for the 5th day in a row, AME ended the week 3.51% higher at 80.83 after gaining $0.14 (0.17%) today on low volume. Today's closing price of 80.83 marks the highest close since Inception. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $0.79 (0.98%), that's slightly below last trading month's daily average range of $0.92. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.
Prices are trading close to a key support level at 80.21.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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