EMR closes within prior day's range after lackluster session
Emerson Electric Company (EMR) Technical Analysis Report for Sep 14, 2018
EMR ended the week 2.31% higher at 77.54 after losing $0.21 (-0.27%) today. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.
Friday's trading range was $0.57 (0.73%), that's far below last trading month's daily average range of $0.91. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Prices are trading close to the key resistance level at 78.00. After having been unable to move above 78.00 in the prior session, the share ran into sellers again around the same price level today, failing to move higher than 77.91.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the nearby swing high at 78.00 where further buy stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Emerson Electric Company
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|High close to previous High||TQ Pro Members Only|
|High close to previous two Highs||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
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