ECL dominated by bulls lifting the market higher throughout the day
Ecolab Inc. (ECL) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
ECL finished Monday at 146.96 surging $5.78 (4.09%) on high volume. This is the biggest single day gain since Inception. Today's closing price of 146.96 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 142.13, the share confirms its breakout through the prior session's high having traded $4.92 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (ECL as at Apr 16, 2018):
Monday's trading range was $5.76 (4.05%), that's far above last trading month's daily average range of $2.59. Weekly volatility is also higher, being above the markets average with the monthly volatility being way above average.
After trading as low as 141.29 during the day, the market bounced off the key support level at 141.99. The failure to close below the support might increase that levels importance as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.