EMR closes within prior day's range after lackluster session

Emerson Electric Company (EMR) Technical Analysis Report for Sep 14, 2018

Highlights

EMR runs into sellers again around 77.91
EMR closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 40% Bearish
Technical Forecast:

Overview

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.

Daily chart for EMR

Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

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

Order Flow

Buying might speed up should prices move above the nearby swing high at 78.00 where further buy stops could get activated.

Conclusion

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 Win Rate 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
More market conditions identified for TQ Pro members...
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