FLIR finds buyers at key support level


FLIR Systems (FLIR) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
FLIR closes above its opening price after recovering from early selling pressure
FLIR finds buyers at key support level
FLIR pushes through previous session high
FLIR rises to highest close since January 29th
TQ Sentiment
Report Sentiment: 75% Bullish
Technical Forecast:
Overview

FLIR finished Monday at 52.16 gaining $0.79 (1.54%) on low volume. Today's closing price of 52.16 marks the highest close since January 29th. Trading up to $0.32 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 52.07, the stock confirms its breakout through the prior session's high having traded $0.29 above it intraday.

Daily chart for FLIR
Volatility

Monday's trading range was $0.85 (1.64%), that's below last trading month's daily average range of $0.99. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

After trading as low as 51.51 during the day, FLIR Systems bounced off the key support level at 51.70. The failure to close below the support might increase that levels importance as support going forward.

Trend

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

Order Flow

With prices trading close to this year's high at 52.70, upside momentum could speed up should the market be able to break out to new highs for the year.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Market Conditions for FLIR Systems
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
White Candle TQ Pro Members Only
Bullish Bounce off SMA 50 TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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