FLIR slides to lowest close since May 3rd
FLIR Systems Inc. (FLIR) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving lower for the 6th day in a row, FLIR finished Thursday at 54.44 losing $0.30 (-0.55%) on low volume. Today's closing price of 54.44 marks the lowest close since May 3rd. Trading $0.22 higher after the open, FLIR Systems was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 54.62, the market confirms its breakout through the prior session's low having traded $0.26 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (FLIR as at May 17, 2018):
Thursday's trading range was $0.59 (1.08%), that's below last trading month's daily average range of $0.94. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
Unable to break through the key technical resistance level at 54.82, the stock closed below it after spiking as high as 54.95 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could accelerate should prices move above the nearby swing high at 55.37 where further buy stops might get triggered.