FTV breaks key support level


Fortive Corp (FTV) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
FTV breaks key support level
FTV closes lower for the 3rd day in a row
FTV breaks below previous session low
FTV falls to lowest close since July 25th
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, FTV ended the week -1.86% lower at 79.70 after losing $0.54 (-0.67%) today. Today's closing price of 79.70 marks the lowest close since July 25th. Closing below Thursday's low at 80.20, the share confirms its breakout through the previous session's low having traded $0.77 below it intraday.

Daily chart for FTV
Volatility

Friday's trading range was $0.80 (1.0%), that's below last trading month's daily average range of $1.29. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking below the key support level at 79.98 today, it is now likely to act as resistance going forward.

Trend

Although Fortive Corp is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

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 Fortive Corp
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to Swing High TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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