ECL closes above its opening price after recovering from early selling pressure

Ecolab Inc. (ECL) Technical Analysis Report for Sep 14, 2018

Highlights

ECL closes above its opening price after recovering from early selling pressure
ECL closes higher for the 10th day in a row
ECL ends the day on a bullish note closing near the high of the day
ECL pushes through previous session high
ECL rises to highest close since Inception

TQ Sentiment

Report Sentiment: 60% Bullish
Technical Forecast:

Overview

Moving higher for the 10th day in a row, ECL ended the week 2.46% higher at 157.12 after gaining $0.58 (0.37%) today. Today's closing price of 157.12 marks the highest close since Inception. Trading up to $0.62 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 156.71, the share confirms its breakout through the previous session's high having traded $0.52 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for ECL

Volatility

Friday's trading range was $1.19 (0.76%), that's slightly below last trading month's daily average range of $1.38. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.

Trend

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

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.

Market Conditions for Ecolab Inc.

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